The boss of the Everards brewery said the business had cancelled almost £4.7 million of rent for its 170-odd pub managers over the past year.
Managing director Stephen Gould said the company had cut 73 per cent of its rent roll in the 12 months to March, 2021, to secure the long-term future of the estate through the pandemic.
He said despite such a tough trading environment Everards was pushing on with £5 million plans for a 150 bedroom hotel next to its new Everards Meadows home, just south of Leicester.
READ MORE: {}
He said a new beer hall recently completed on the site would open on June 3, while the business was gradually bringing its new brewery up to speed, which will be capable of brewing 16,000 barrels of beer a year.
Mr Gould said a smaller “pilot brewery” has also been set up allowing Everards to do trial production runs of new beers and allow members of the public to have a go at brewing their own.
More than 70 per cent of Everards pubs reopened when outdoor sales were given the go-ahead on April 12, with the rest opening from May 17.
Mr Gould said a combination of the pub owners’ “resilience, innovation and commitment to their communities, plus Everards and HM Government support” meant the pub estate remained fully let as of the end of last month.
However following a review of the estate, 14 pubs are being sold for an undisclosed sum to Hawthorn, the West Midlands based pubs company.
Most Read
Mr Gould said an outline planning application for the hotel will go in to Blaby District Council at the end of this week.
He said: “As well as the hotel we are keen to see if we can construct some buildings that could be connected to health and wellbeing and education.
“The 70 acre Everards Meadows site has been a huge success and we think it is somewhere that could appeal to a university looking to develop a research and development facility, for example.
“And, of course, when people visit that we visualise them interacting with the whole of Everards Meadows and even being able to stay at the hotel.”
He said pub owners had had financial support from the Government through the pandemic in the form of grants, rates reductions, reductions in VAT and furlough, as well as bounce-back loans of up to £50,000, which have no interest or repayments for the first 12 months.
At the same time Everards’ core team of 73 have been retained throughout, he said, with the business making use of the furlough scheme.
Everards has also made use of a low interest £5 million CBILS loan through Lloyds Bank.
Don’t miss
Mr Gould said: “The last 12 months have been intensely challenging for the hospitality industry.
“I would like to thank our employees, business owners, shareholders, bank, advisers, brewing partners, suppliers, trade associations and HM Government for their support and partnership.
“We are as well placed as we can be as we emerge from the lockdown.
“However, it is imperative that the Government Roadmap is delivered so that by June 21, all of our pubs can operate without Covid related restrictions. That will be the first step to recovery.
“Working with the Government, I think there is a long overdue opportunity to deliver lower taxation for beer duty, property rates and VAT for pubs.
“Such reform will directly invest into the unique and special 海角视频 pub & brewing industry creating jobs, stimulating investment, strengthening communities and positioning pubs and breweries for long term sustainable growth.”
Elsewhere, Julian Everard, son of company chairman Richard Everard, joined the business last October.
And in the past year the Everard Family Foundation had contributed £50,000 to the Age 海角视频 Leicestershire & Rutland Charity, and £25,000 to the new Children’s Hospital at the Leicester Royal Infirmary.
The business is also working with Molson Coors to give a further £40,000 to local community causes this month and next.