UHY Hacker Young

Pub and bar company insolvencies see sharp increase in 2019

The number of insolvencies of pub and bar companies has jumped by 13% to 530 in the year to 30 September, up from 470 the previous year, according to UHY Hacker Young. It is the third successive year in which pub company insolvencies have increased, which the firm said is…

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Restaurant closures up 25% over the past 12 months

The number of restaurant insolvencies has jumped 25% in the last year up to 1,410 in 2018/19, compared with 1,130 for the previous year. The study compiled by accounting firm UHY Hacker Young found that the rapid growth of the causal-dining sector since the last recession had resulted in an…

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15 of the top 20 UK restaurant companies ‘cannot cover debts’

According to research by accountancy group UHY Hacker Young, 15 of the top 20 UK restaurant companies do not have enough cash to cover their debts falling due in the next year. An analysis of the short term liabilities and assets of the UK’s top 20 restaurant companies reveals that,…

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Profits at top 100 UK restaurant groups plunge 80% to £37m in a year

The total pre-tax profits at the UK’s top 100 restaurants have plummeted by 80% in the last year to £37m, down from £194m 12 months ago according to accounting firm UHY Hacker Young. The drop means that pre-tax profits at the UK’s top 100 restaurant groups have fallen 89% from…

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Is the demise of restaurant chains a good thing for local independents?

The Gaucho restaurant group is the latest in a list of chain restaurants to appoint administrators or announce restructuring and branch closures. The news, including the closure of their 22 Cau restaurants follows on from the restructuring of Jamie’s Italian, Prezzo, Café Rouge, Byron and Strada. In my home city…

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Takeaway sector thrives amid restaurant struggles

The UK’s top 100 takeaway businesses have seen a 10% increase in turnover from £2.7bn from £2.46bn in the past year, research from credit broker Funding Options has found. Furthermore, profits at the UK’s top takeaway businesses have risen from £160m to £180m, a 13% increase. In contrast, the UK’s…

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326 soft drinks manufacturers hit by ‘Sugar Tax’

HMRC has confirmed that 326 soft drinks manufacturers have been hit by the so-called ‘sugar tax’, research by accountancy firm UHY Hacker Young has revealed. The Soft Drinks Industry Levy was introduced on April 6, and taxes manufacturers 18p per litre produced if the drink contains five grams of sugar…

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UK’s top 100 restaurant groups’ debts increase by 19% in a year

The UK’s top 100 restaurant groups grew their collective debt pile by 19% in the last year, from £1.65bn to £1.96bn, according to new analysis. Accountancy group UHY Hacker Young says many restaurant chains are still increasing their borrowing in order to acquire and fit out new sites, even as…

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35 of the UK’s Top 100 restaurant groups are loss making

35 of the UK’s Top 100 restaurant groups are now loss-making, up 75% from just 20 last year, new research shows. Chartered accountants, UHY Hacker Young, found that trading conditions have become increasingly difficult for restaurant chains dealing with oversaturation in the market as well as rising costs. Casualties include…

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