The number of jobs lost across the embattled restaurant and casual dining sector so far this year is already nearly double the amount shed during the whole of 2019.
Figures compiled by the Centre for Retail Research show so far a total 22,039 jobs were lost across large restaurant groups and independent operators, up 95.4% on the 11,280 jobs lost during the whole of 2019.
It comes after Carluccio, the Casual Dining Group, Bistrot Pierre and Byron all went into administration to close stores and reduce rents. Others, such as The Restaurant Group and Pizza Express, have also launched CVAs to reduce costs and escape from unprofitable outlets.
The Centre for Retail Research has also revealed the total number of restaurants and casual dining outlets closed so far this year has reached up to 1,467 already 59.1% higher than the 922 closed during 2019.
Professor Joshua Bamfield, director of the Centre for Retail Research, said that he expects “more pain ahead” and added: “The sector was already in severe difficulties before the pandemic as a result of rapid overexpansion fuelled by private equity acquisitions with the enforced lockdown serving to starve operators of revenue bringing restaurateurs now to their knees.”