Day: November 13, 2020

Today is deadline day for retrospective furlough agreements

Many are now familiar with the recent changes to the Coronavirus Job Retention Scheme (commonly referred to as the “Furlough Scheme”) but keeping track with the updated statements; guidance notes and Treasury directions issued by the Government can, for many employers, be a difficult task.

Partner Sue Dowling, head of Blandy & Blandy’s Employment Law team, highlights today’s deadline for retrospective furlough agreements.

Whilst the Furlough Scheme has been extended to 31 March 2021, the latest guidance issued by the Government is a vital read, not least due to the stipulation of today’s deadline for retrospective furlough agreements to be put in place to cover any claim for the period from 1 November.

The full guidance can be read here and here.

It is the second guidance (issued on 10 November) that contains the deadline of today.

What are the important and immediate points from the above guidance?

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Caffè Nero to look at restructure after pandemic ‘decimates’ trading

Caffè Nero has been forced to launch a restructuring of its business following the second lockdown.

The coffee chain is launching a Company Voluntary Arrangement (CVA) which will allow it to renegotiate terms with its landlords and other creditors.

Caffè Nero, which employs 6,000 workers, said “the pandemic has decimated trading”.

It said it was able to navigate the first shutdown but the subsequent fire break necessitated “further action”.

The company trades across 800 shops in the UK and a further 200 sites overseas. A company facing insolvency can use a CVA to continue to trade while paying creditors such as landlords over a fixed period – if those creditors agree.

Caffè Nero said it had converted many of its shops to takeaway-only services during the first lockdown in March.

But following the second shutdown, it said that, “with many people continuing to work from home, ongoing limits to social

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San Antonio Biz Journal, ABC station form content-sharing agreement

The San Antonio Business Journal and KSAT 12, the ABC affiliate in San Antonio, have formed a content-sharing partnership as both news outlets seek to expand the scope of news they offer, reports Steven Santana of the Business Journal.

Santana writes, “The Business Journal is making business news articles available to KSAT’s website readers, and San Antonio’s ABC affiliate is doing the same for Business Journal readers. Each organization will publish abridged articles from its partner with an option for readers to click to the original versions.

Read more here.

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