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Latest figures show that hospitality lost one in 18 sites in the last 12 months, as rising costs continue to impact the sector.
According to the new Hospitality Market Monitor from CGA by NIQ and AlixPartners, Britain lost 5,376 pubs, restaurants, bars and cafes in the past year.
Our response
Our Chief Executive Kate Nicholls said: “These figures clearly demonstrate the challenges faced by hospitality businesses.
In particular, smaller independent businesses, who have borne the brunt of the ongoing challenges of soaring costs, workforce issues and more.
“Alongside the increased rate of business failure across the independent market, there has been an industry-wide freeze on investment and new openings due to the current crisis, providing a very constrained short-term outlook.
“We can draw hope from this, though, as when these challenges do begin to subside, the longer-term prospects will become increasingly more positive, as demand continues to remain stable which will lead to increased growth prospects.
“It’s vital that the sector, especially including our smaller and independent venues, receives as much support as it can get, if it’s going to bounce back and experience that positivity, and play a key part in driving the recovery.”
