UK Furlough Scheme Gone, VAT Increase To Raise Prices, Latest Inventory App, Piestro Crowdfunds $5M, State Of Employment Update
Daily Digest
The Furlough Scheme That Supported Millions of Hospitality Jobs Is Gone (Eater London) The number of workers using the coronavirus job retention initiative fell sharply over summer, but the problems for employment in the restaurant world are far from over.
Restaurants warn prices will rise due to VAT hike (BBC) Owners said the increase from 5% to 12.5% was badly timed, with one restaurant chain owner saying businesses were already "hanging by a thread".
Sculpture Hospitality unveils app for restaurants to manage inventory (Verdict Food Service) The application helps restaurant and bar businesses to streamline their inventory management processes.
Piestro Raises Nearly $5M in Equity Crowdfunding to Fund Pizza Robot Development (The Spoon) According to the funding prospectus for the just-completed campaign, the company plans to use the funds to develop its second-generation pizza robot. The second-generation Piestro, which will be the first pizza robot from the company to be deployed in consumer-facing locations and take payments, will use what the company describes as ‘cold-to-cook’ technology. The company hopes to have its new prototype deployed by December of this year.
Video: Restaurants remain understaffed even as unemployment benefits end (CNBC) CNBC’s Kate Rogers reports on the state of employment in the restaurant industry. She also takes a look at some restaurant stocks that are seeing renewed strength.