Save Our Restaurants Coalition;3 point plan to support your neighbourhood restaurants

Restaurant owners, along with many others, have been decimated by the Covid 19 crisis. We are broken. Countless businesses are now closed, tens of thousands of valued employees have lost their livelihoods and business owners face bankruptcy as their world crumbles around them.

Restaurant leaders and their teams have displayed extraordinary resilience, positivity and creativity in how they’ve amended their operating and business models to deliver a relevant service during this pandemic.

Over the last few weeks a discussion among industry friends across the restaurant world came together to create a positive step forward. The idea to stimulate thinking and drive change with new initiatives to help Save Our Restaurants.

The Save Our Restaurants coalition has been formed by a group of hospitality leaders and advisers with four aims:

Reassure employees that it safe to come back to work, and keep people employed.
Return to a regular cost base pre Covid-19 allowing capable business to survive
Re-engage the public, by reassuring them that it is safe to come out and visit their favourite restaurants.
Reopen restaurants so that they can employ workers, and enable their Suppliers and partners to do more business.

What is a step down plan? Is a process of balancing a budget by reducing the number of expenses in several ways. This step down plan aims to be a fair approach to protect the interests of our employees, our shareholders and our culture.

The plan

The aim of this plan is to get the operating costs of restaurants in line with post lockdown sales, while making sure the support goes to those who need it most, while those who don’t need it, don’t get it.
Our 3 point Step Down plan

1. Occupancy Costs Step Down
Government insures restaurant occupancy costs for 2 years
Occupancy Costs
Rent
Rates, water, water waste, street furniture charges
Business Insurance
Landlords Insurance
Depreciation

2. Bank Repayments Step Down
Banks agree to defer repayment of loans / leases / mortgages for 2 years
Facilities
Term Loans
Overdrafts
Business Mortgages

3. Labour Cost Step Down
Government continues with Income supports for employees for 2 years
Business down 25% or more

We'd love if you could support the Save Our Restaurants Coalition by signing this petition.