UHY Hacker Young
Reporting on financial analysis, tax insights, and industry benchmarking provided by a leading accountancy and advisory firm with a strong focus on the hospitality sector. This section covers business rates, VAT schemes, profit performance, and commentary on economic trends impacting restaurants, pubs, and F&B operators. Designed for finance leads, operators, and group executives, it offers practical guidance and strategic context to support commercial planning in a volatile market.
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Mar- 2022 -14 MarchRestaurants
Restaurant insolvencies rise to 354 in Q4
Restaurant insolvencies jumped by a fifth to 354 in the last quarter of 2021, rising from 296 in Q3, according to UHY Hacker Young, the national accountancy group. UHY Hacker Young said “despite the end of coronavirus restrictions, the sector faces considerable challenges”. The invasion of Ukraine and resulting sanctions…
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Jan- 2022 -10 JanuaryBusiness
UK restaurant groups see losses increase 174% to £673m
Losses at the the top 100 UK restaurant groups increased by 174% last year to £673m, up from a loss of £246m in September 2020, revealed UHY Hacker Young. Lost sales reportedly cost the hospitality sector around £200m a day during lockdown, with restaurants continuing to incur “substantial” costs such…
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Nov- 2021 -22 NovemberRestaurants
UK restaurant insolvencies soar 31%
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. Restaurants have had…
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Mar- 2021 -16 MarchBreweries and Distilleries
Number of UK breweries rose by 7.5% in 2020
The number of breweries in the UK increased by 7.5% in 2020, according to research carried out by UHY Hacker Young. There are now 3,000 breweries in the country, despite pub and bar closures resulting from pandemic lockdowns. In 2020, pubs were closed for 161 days, which is around 44%…
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Feb- 2021 -8 FebruaryCoronavirus
Losses from top 100 UK restaurant groups rise 112% to £571m
The top 100 UK restaurants groups saw their losses soar by 112% to £571m last year, rising from reported losses of £269m at the end of last March, according to UHY Hacker Young. The firm said these losses only run up to the start of the lockdown and are therefore…
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Jun- 2020 -1 JuneRestaurants
Losses at UK’s top 100 restaurant groups jump 94% to £151m
Losses at the UK’ Top 100 restaurant groups increased 94% to £151m last year, growing from a loss of £78m the year before, according to new research from UHY Hacker Young. The firm said the top 100 restaurant groups have seen losses “worsen in recent years” and this trend is…
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May- 2020 -18 MayCoronavirus
Petitions to wind up restaurants rocket 165%
The number of petitions to wind up restaurants has rocketed 165% to 53 in the year ended 20 April, according to the latest figures from UHY Hacker Young. Such petitions, that have been brought forward over bills left unpaid by struggling restaurants, are expected to see a further surge once…
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5 MayCoronavirus
Furlough errors could cost small firms
SMEs are making errors on their applications for the Government’s furlough scheme, meaning they will have to repay thousands of pounds back to HMRC later, accountancy firm UHY Hacker Young has said. The firm explained it has seen many small business applications for the furlough grant that includes the cost…
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Apr- 2020 -8 AprilBusiness
Average UK SME does not have enough cash to cover debts due in 2021, says UHY
The average UK SME does not have enough cash to cover debts due in the next year, according to new research from accountancy firm UHY Hacker Young. The firm’s analysis of the balance sheets of more than 13,500 SMEs in the UK showed that the average SME now has only…
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Mar- 2020 -30 MarchCoronavirus
Restaurant and pub insolvencies rose before pandemic, says UHY Hacker Young
There were 1,452 restaurant and 526 UK pub insolvencies last year, according to UHY Hacker Young. The financial firm said that the industry was “stuck in a long-term slump” even before the onset of the Covid-19 pandemic. Some 1,452 UK restaurant businesses and 526 UK pub businesses entered insolvency in…
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