Figure worse than predicted and head of industry body expects ‘more business failures’ in early 2023
The rail strikes have had a worse impact on the UK’s hospitality industry than expected – costing bars, pubs, restaurants and hotels £1.5bn in December alone – according to the head of the body representing the sector.
Kate Nicholls, the chief executive of UKHospitality, said this had contributed to a “perfect storm” for businesses battling high energy bills and a cost of living crisis, adding this meant “undoubtedly we will see more business failures” in the next three months.
Figure worse than predicted and head of industry body expects ‘more business failures’ in early 2023The rail strikes have had a worse impact on the UK’s hospitality industry than expected – costing bars, pubs, restaurants and hotels £1.5bn in December alone – according to the head of the body representing the sector.Kate Nicholls, the chief executive of UKHospitality, said this had contributed to a “perfect storm” for businesses battling high energy bills and a cost of living crisis, adding this meant “undoubtedly we will see more business failures” in the next three months. Continue reading…
