How the Hospitality Industry can combat the insolvency crisis

While long term planning is crucial for the industry, the crisis is so acute that short term solutions are necessary for the continued survival of many establishments

After a report from UHY Hacker Young showed that UK restaurant insolvencies have jumped 64% from 856 in 2020/21 to 1,406, Kate Nicholls, CEO of UK Hospitality, warns that “it’s quite clear that this is just the tip of the iceberg”.

The past quarter represented the largest number of restaurant insolvencies since the Insolvency Service began reporting monthly statistics during the COVID pandemic.

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