Restaurants

UK restaurant insolvencies soar 31%

Restaurants have had to suddenly increase their expenditure following closures amid lockdown, with sales not recovering quickly enough

UK restaurant insolvencies have soared by 31% to 296 in the last quarter, up from 226 in the previous quarter, according to new figures from UHY Hacker Young.

It comes as many restaurants have faced a “cashflow crisis”, which has “tipped some over the edge” into insolvency.

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