Insolvency Service

Hospitality insolvencies down but downturn in trade could spell trouble, RSM warns

Accommodation and food services insolvencies decreased 12% year-on-year from 313 in April 2024 to 275 in April 2025, according to the latest insolvency figures from the government insolvency service. Insolvencies in the sector also decreased 12% from 3,824 in the 12 months to April 2024 to 3,369 in the 12…

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Today’s news in brief – 21/10/24

The UK’s top 100 restaurant groups saw profits dip to £244.1m in 2024 from £246.5m, according to new research by UHY Hacker Young. The firm has called this dip in profits a “creditable performance” considering the challenges the sector has faced from the cost-of-living crisis and years of losses the…

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Hospitality insolvencies show signs of easing

Accommodation and food service insolvencies fell 16% month-on-month in August 2024, from 323 to 270, the lowest monthly figure since January 2024, according to the Insolvency Service. Furthermore, insolvencies were down 29% when compared with the same month last year. However, insolvencies in the sector increased 9% in the year…

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How the Hospitality Industry can combat the insolvency crisis

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…

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UK restaurant insolvencies surge 64%

UK restaurant insolvencies have jumped 64% year-on-year from 856 in 2020/21 to 1,406, as rising inflation, decreased consumer spending and labour shortages are driving restaurants out of business, according to new data from UHY Hacker Young. There were 431 restaurant insolvencies in the last quarter alone (in the three months…

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Former directors of Carillion face disqualification charges

The Insolvency Service has applied to the High Court to disqualify eight directors and former directors for Carillion following the company’s collapse in 2018. Carillion was a supplier to the government with around 420 public sector contracts. At its peak the catering aspect of the business served 32,000 meals to…

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Mardin & Maras director banned for 7-years for undeclared takings

Caesar’s Pizza & Kebab owner Huseyin Gozel has been banned from trading for seven years after the Insolvency service revealed the restaurant’s undeclared takings and £400,000 worth of owed tax. Huseyin Gozel, director of Mardin and Maras Limited, which operates the kebab restaurant, entered into liquidation in September 2019 after…

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Restaurant duo banned for £173k tax avoidance

Two brothers who operated a restaurant in South East London are now banned from acting as directors or becoming involved in a company after they failed to pay £173,000 in taxes. Since 2007, Carlos and Fernando De La Cruz Vidal owned Santo Limited, a company which traded as the restaurant…

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Brighton restaurateur banned for tax avoidance

A Brighton restaurateur has been banned from trading for six years after he “deliberately under declared tax” resulting in liabilities of more than £130,000. The owner Byron Swales, from Hove, was director of Indian Summer UK Limited, which traded as the Indian Summer restaurant on East Street in Brighton. Indian…

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North-East restaurateur banned for tax abuse

A Sunderland restaurant boss has been disqualified from running companies for seven years after owing tax authorities £130,000. Church View Restaurant Ltd was incorporated in July 2014 and traded as Ministers Restaurant on Church View, Sedgefield, in Stockton on Tees. Abdul Amin, was the sole director of the company and…

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