Mazars
Covers developments from an international audit, tax, and advisory firm with services impacting the UK hospitality and foodservice sectors. Coverage includes financial guidance, regulatory updates, market analysis, and strategic advice for operators, alongside insights into tax planning, sustainability reporting, and business restructuring within restaurants, pubs, hotels, and catering businesses.
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Jun- 2023 -5 JuneBreweries and Distilleries
Number of brewery insolvencies triples in past year, says Mazars
The number of UK breweries becoming insolvent has tripled in the past year, jumping to 45 in the year to March 31 2023, up from 15 in the previous year, says Mazars. This news comes as insolvencies have largely been felt among smaller craft breweries who have suffered from an…
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Mar- 2023 -27 MarchFeatures
Noah’s Ark-le: Surviving rising waters for a successful launch
“The hotel has got a really massive turnover of finance and footfall and effectively puts the customers in the building where our restaurant is,” says Sam Griffiths, executive sous chef at Arkle. 2022 was a difficult year for those in the restaurant business with over 1500 restaurants in the UK…
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Feb- 2023 -16 FebruaryRestaurants
Final quarter of 2022 ‘worst on record’ for restaurant closures
The final quarter of 2022 was the “worst on record” for restaurant closures, as 504 restaurant companies entered insolvency in Q4 of 2022, according to new data from Mazars. This marked an 11% rise against the previous quarter. Meanwhile, restaurant company insolvencies reached their highest level in four years in…
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Nov- 2022 -21 NovemberBusiness
Restaurant insolvencies rise by 60% over the past year
Restaurant company insolvencies have increased by 59% over the past year, rising from 984 in 2020/21 to 1,567 in 2021/22, according to Mazars. In the last three months alone, the number of restaurant companies becoming insolvent rose by 15% to 453, up from 395 the previous quarter. It comes as…
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Sep- 2021 -6 SeptemberCoronavirus
Hotel and restaurant loan write-offs soar 65%
Write-offs of loans to restaurants and hotels rose by 65% during the course of the pandemic, with £99m written off by banks and other lenders in 2020/21, up from £60m the prior year, according to audit, tax, and advisory firm Mazars. The firm found that write-offs in lending to the…
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Feb- 2020 -21 FebruaryCatering Companies
Administrators appointed to MPM Catering Limited
Conrad Pearson and Patrick Lannagan of Mazars, the international accounting and advisory firm, have been appointed as joint administrators of MPM Catering Limited. The company, which trades as Cook Street, operates from leased premises in Shrewsbury and provides high volume mobile catering to public events around the UK. The family-run…
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Jan- 2020 -23 JanuaryRestaurants
Restaurant group Tre Ciccio enters administration
Manchester-based Italian restaurant group Tre Ciccio has entered administration. Tre Ciccio opened its first restaurant in Altrincham in 2018 and opened two more sites in Bramhall and Ramsbottom soon after. The group confirmed the closure on social media. In a Facebook post it said: “We can confirm Tre Ciccio Ltd…
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