The Guardian reported that the reasons for the closure of restaurants in Britain were rising energy prices, a shortage of staff and falling profits.
Restaurant closures in the UK have been 60% more frequent over the past year than during the coronavirus pandemic, due to high energy prices, a shortage of staff and falling demand, the Guardian newspaper reports, citing a study by the consulting company Mazars.
According to the study, the number of closures in the UK restaurant business in the 2021-2022 financial year reached 1,567, which is 60% more than in 2020-2021, when 984 restaurants closed during the pandemic, the newspaper writes. The report notes that 453 bankruptcies were registered over the past three months, and 395 in the previous quarter.
“Bankruptcies in the restaurant business are much more common now than during the coronavirus. It’s a highly explosive mix of rising production costs, soaring finance costs and weak demand. Most restaurateurs have not yet encountered such a combination of negative factors”, quotes the publication of the words of Mazars partner Rebecca Dacre.
More than a third of the premises could close by early 2023. Half of Britons plan to further cut costs, raising concerns among businesses accustomed to making extra profits during the holiday season.
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