Various restaurants to be paid £2.5m from Business Interruption Insurance
Monday, February 1, 2021
Diverse Eateries, a restaurant property owner, construction company and operator, received £2.5million under the company's' business disruption policy.'
Several Eateries, owners and operators of the Coppa Club and Tavolino brands, received provisional discounts of £2.5 million from their insurance firm on interruptions to operations after a landmark verdict at the High Court earlier this month.
While offices throughout Britain remained closed due to ongoing Covid-19 restrictions, the group said it would continue its expansion strategy by investing in infrastructure brought about by the pandemic.
Considering a lack of indications when closures and other restrictions would be lifted, the Company has so far chosen to delay the signing of new rental agreements but expects to do so in the near future on terms reflecting significant and sustained declines in the value of its retail real estate.
Variety Eateries chief executive, Yishay Malkov, said: 'The management team and I have run restaurants through numerous crises and challenging external events and we have always come back stronger.