Business Interruption Claim update

RNS Number : 7475D

Various Eateries PLC

01 July 2021

 

1 July 2021

VARIOUS EATERIES PLC

("Various Eateries" or "the Company"

and with its subsidiaries "the Group")

Business Interruption Claim update

Various Eateries plc, the owner, developer and operator of restaurant, clubhouse and hotel sites in the United Kingdom, which received a Business Interruption Payment of £2.5m in December 2020, announces that to enable it to obtain certainty on the amount of the balance of insurance proceeds due to it, it is collaborating with Allianz, its insurer, to seek judicial determination over a number of issues affecting Various Eateries' business interruption claim for Covid-19-related losses under a Marsh Resilience policy (known in the FCA test case as RSA4) which were left unresolved by the court following the FCA test case.

Enquiries

Various Eateries plc
Andy Bassadone	Executive Chairman	Via Alma PR
Yishay Malkov	Chief Executive Officer
Oli Williams	Chief Financial Officer
WH Ireland Limited	Sole Broker and Nominated Adviser	Tel: [phone]
Broking Harry Ansell, Adam Pollock
Nominated Adviser Katy Mitchell, Lydia Zychowska
Alma PR	Financial PR	Tel: [phone]
David Ison		[e-mail]
Susie Hudson
Molly Gretton

About Various Eateries

Various Eateries owns, develops and operates restaurant, clubhouse and hotel sites in the United Kingdom. The Group's stated mission is "great people delivering unique experiences through continuous innovation".

The Group is led by a highly experienced senior team including Andy Bassadone (Executive Chairman), Hugh Osmond (Founder), Yishay Malkov (CEO), Oliver Williams (CFO) and Matt Fanthorpe (Chef Director, a non-board position).

The Group operates two core brands across 11 locations:

· Coppa Club, a collection of clubhouses which combine restaurant, terrace, café, lounge, bar and work spaces, some with bedrooms and other club facilities

· Tavolino, a restaurant aiming to address a gap in the market for high quality Italian food at mid-market prices

For more information visit www.variouseateries.co.uk  

 

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