Loans repayment, inflation, staff shortages: what else we can expect from hospitality insolvencies?

Following the recent closure of all Le Pain Quotidien’s sites in the UK, Glyn Mummery, restructuring advisory partner at FRP Advisory, and Nick O’Reilly, head of restructuring and recovery at MHA, told Catering Today what the recent spike in hospitality insolvencies means for the industry

What are the potential reasons for the continued increase in the number of hospitality insolvencies we’ve seen recently?

Glyn: I think it goes back to the pandemic. Covid was a big thing for the sector and rightly, both the government and HMRC stepped in to help companies with furlough and allowing them to repay VAT for example.

Back to top button