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Coronavirus: Mitchells & Butlers, Fulham Shore among venues extending Eat Out to Help Out scheme

As the scheme comes to an end, several companies have chosen to offer discount throughout September

Mitchells & Butlers - Coronavirus: Mitchells & Butlers, Fulham Shore among venues extending Eat Out to Help Out scheme

Mitchells & Butlers plc’s (LON:MAB) brands Harvester, Stonehouse Pizza & Carvery and Toby Carvery are among the restaurants extending the Eat Out to Help Out scheme.

They will offer a 50% discount on main meals on Monday to Wednesday in the first two weeks of September, which perhaps prompted a 3% rise in shares to 174.73p on Friday.

Fulham Shore PLC (LON:FUL), instead, shed 2% to 9.84p despite its Franco Manca brand is also offering discounted pizzas and soft drinks throughout the month.

Pizza Pilgrims, Bill’s, Prezzo and Tesco Café are applying similar discounts to the whole month, while Pizza Hut is chopping the bill for those signed up their database.

Smaller London-based chains such as Brindisa Restaurants and Balans are also joining the bonanza.

While most of these are for dine-in options bills, Deliveroo is launching an ‘Eat In To Help Out’ with discounted home deliveries.

The programme, designed to support the hospitality sector, took 50% off the food bill in cafes, restaurants or pubs from Mondays to Wednesdays over the course of August, capped at £10 per person.

In the first three weeks it was used 64mln times, while bookings in the available days soaring by up to 70% compared to the same period last year.

However, as Hargreaves Lansdown pointed out, Thursday to Sunday bookings in August were well below last year’s rates.

“Given that many restaurants rely heavily on weekend trade, it may be that spending has just shifted to earlier in the week with potentially a lower spend,” said analyst Susannah Streeter.

“But social distancing rules also mean that restaurants can accommodate far fewer bookings than they did before the pandemic which will also partly account for the drop in weekend trade.”

Quick facts: Mitchells & Butlers

Price: 223 GBX

Market: LSE
Market Cap: £957.12 m

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