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Aramark sees 21% revenue drop in FY 2020 plus four other things you may have missed.

5 coronavirus things: Aramark revenue down 21% in FY2020

This and a new dining hall set to open in January at University of North Texas are some of the stories you may have missed recently regarding the COVID-19 crisis.

In this special edition of 5 Things, Food Management highlights five things you may have missed recently about developments regarding coronavirus and its impact on onsite dining.

Here’s your list for today:

  1. Aramark sees 21% revenue drop in FY 2020

Aramark has reported a revenue drop of nearly $3.4 billion—a 21% decline from $16.18 billion to $12.79 billion—for fiscal year 2020 compared to 2019. In the fourth quarter, there was a 32% decline of $1.26 billion, from $3.95 billion to $2.69 billion compared to Q4 of 2019. For the company's U.S. Food & Support Services division, its largest, the fourth quarter loss was $979 million, a 41% decline from Q4 2019.

Read more: Aramark Reports Fourth Quarter and Full Year 2020 Earnings

  1. Major new dining hall set to open in January at UNT

The University of North Texas (UNT) is set to open a new two-story, seven-station, 730-seat dining hall called the Eagle Landing Cafeteria in January, replacing an older facility, Kerr Cafeteria. Among the food stations slated for Eagle Landing are Leaf, a plant-forward concept grown featuring greens and herbs grown at the Mean Green Acres campus organic non-GMO hydroponic garden. Kerr is scheduled to suspend operations on Dec. 10, 2020, after which its staff will transition to Eagle Landing and participate in training for new kitchen operations.

Read more: New dining hall Eagle Landing set to land in January

  1. Bankrupt Luby’s shareholders vote for sale of contract unit

Shareholders of Luby’s Inc. have voted overwhelmingly to proceed with the company’s plan to liquidate its assets and eventually dissolve the company. Luby’s, which operates commercial cafeterias and the Fuddruckers burger chain, is also parent to the FM Top 50 firm Luby’s Culinary Services, which manages dining operations primarily in healthcare facilities. The liquidation plan calls for that unit to be sold to raise cash to help resolve the parent company’s liabilities and obligations.

Read more: Luby’s shareholders approve cafeteria, Fuddruckers plan

  1. Silicon Valley service workers fearing for jobs following series of layoffs

Following a series of recent layoffs at Verizon, Lyft and Cisco, foodservice and other support workers at Silicon Valley high-tech firms are fearing that the companies, which have kept them on the payroll and covered by health insurance during the pandemic, may soon reverse course. A recent study by Working Partnerships USA found that some 14,000 subcontracted union service worker jobs would be lost if policies change.

Read more: Tech industry service workers in Silicon Valley fear wave of job losses

  1. Thompson Hospitality acquires casual dining chain Matchbox

Thompson Hospitality, a major FM Top 50 firm, has acquired the Matchbox Food Group casual-dining chain that it had already been managing for the past two years after the latter emerged from Chapter 11 bankruptcy protection. The purchased assets include nine company-owned restaurants and one franchised unit.

Read more: Thompson Hospitality acquires Matchbox in bankruptcy deal

Bonus: The 2020 College Power Players cope with COVID

Contact Mike Buzalka at [email protected]

TAGS: Coronavirus
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