Eat in the UK may soon become a problem – the country's restaurants have been covered by wholesale bankruptcy. This is warned by the British media, referring to the data of the consulting company Mazars. At the same time, the upcoming Christmas season does not cause enthusiasm among restaurateurs, pessimism is only growing.
The total number of restaurants that went bankrupt in the UK increased by 60% over the past year. The main reasons given were the high cost of living, low demand and high costs. In total, 1,567 restaurants closed their doors, 453 of them in the last three months. Last year, the number of restaurant closures was 964.
“There are more bankruptcies in UK restaurants now than during the pandemic. Rising costs, rising cost of credit, weakening consumer demand create a very negative combination,” said Rebecca Dacre, one of the experts at Mazars. She assures that restaurateurs say they have never seen “so many negative elements come together.”
At the same time, restaurateurs do not count on high demand in the winter season. “Restaurants are facing a very difficult winter period. Under normal circumstances, the Christmas period is a period of business support,” the expert noted.
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