An independent group of restaurant owners and advisors have put forward a recovery plan to government to prevent widespread job losses and closures in the sector. The Save Our Restaurants Coalition (SORC) is proposing a two-year, step-down plan to allow viable restaurants to survive over the next two years, or until a vaccine is widely distributed in Ireland and restrictions lifted. Crowe is delighted to be a founding supporter of this coalition.
The coalition maintains that without adjusting the cost base during this period, most restaurant businesses will not survive. The aim of their plan is to get the operating costs of restaurants into line with post lockdown sales, while making sure the support goes to those who need it most.
Step-down assistance means that help goes to those businesses that need it most, and is stepped down as revenues recover. Crowe supports this format as it shows business co-operation for the industry and allows government to invest pragmatically in the sector.
SORC’s plan consists of a range of proposals, including:
Download the SORC step-down recovery plan or visit sorc.ie for more details.
At the same time the Restaurants Association of Ireland (RAI) launched its 9-point plan to help save and recover the restaurant industry. The RAI outlined that without urgent action as many as 9 out of 10 restaurants face permanent closure in the months ahead.
RAI’s 9-point recovery plan
Crowe’s dedicated hospitality team are currently supporting a number of our restaurant and hotel clients during this difficult time. We are assisting businesses hit hardest by the COVID-19 restrictions with short- to medium-term planning and financial projections.
Reviewing cost control has never been as important and we are working with hospitality businesses to understand their break-even points, particularly when looking to the future and re-opening. We are assisting with accessing funding, and finding the optimal solutions to ensure business viability. If your hospitality business needs expert support during this crisis, please contact a member of our hotel, tourism and leisure team.