Posted 1/13/2024, 9:48:34 PM
UK Hospitality Sector Crisis: Soaring Costs Force Mass Closures of Pubs and Restaurants
- Thousands of UK bars, restaurants, and pubs closing due to soaring costs, rent hikes, staff shortages, and low consumer demand
- Celebrity chef Tom Kerridge says industry facing "massive issues"; his business lost over £1 million since COVID
- Surging bills, especially energy, tipped many hospitality businesses "over the edge" into closure
- Industry groups call for VAT cuts, business rates relief extension, and other government aid to boost viability
- Government cites £4 billion in hospitality sector support but businesses say much more needed to prevent further closures