A team of experienced professionals have come together to launch a consultancy aimed at helping beleaguered hospitality businesses recover from the coronavirus pandemic.
Hospitality Options is based in Solihull and is being spearheaded by Mark Butler who has 30 years of industry experience, including running his own estate of pubs and hotels and raising and investing £70 million to acquire freehold pubs.
He has also managed more than 300 administration cases for major blue chip companies.
Mr Butler is joined by Tony Sanders, who has managed, owned and operated more than 250 licensed premises, and Trevor Foster, a professional services and banking industry veteran who spent more than 20 years with Barclays and six years with HBOS.
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The trio is hoping to help licensed venues like restaurants and pubs with crucial matters such as financial health checks, marketing, capital restructuring, turnaround planning and management succession.
They are aiming to work with both privately owned businesses and corporate investors.
Mr Butler told BusinessLive: “Following the pandemic and subsequent lockdowns, we know there is a greater need for our type of services because the sector is facing enormous challenges to emerge successfully from this crisis.
“As the industry starts to open up again, investors, owners and operators are having to face dealing with the huge amount of debt that has been incurred due to ongoing fixed costs during lockdown and deferred payments to HMRC and other creditors.
“Once the government support schemes start to fall away with the ending of furlough, rent moratorium, business rates holiday and the increase in VAT, they will need advice and support and possible financial restructuring and this is where our independent advice is needed.”