News UK | Many UK bars could close their doors.

News UK | Many UK bars could close their doors.

According to UKHospitality, more than 10,000 businesses face closure because of rising rent and energy prices.

According to Kate Nicholls, chief executive of industry group UKHospitality, the issue facing the hotel industry in Britain is “as great, if not bigger,” than it was during the Covid pandemic.

10,000 bars and restaurants may soon go out of business as a result of the “perfect storm” of inflation, which includes rising energy and leasing prices, she said.

Many independent operators have already turned in their keys and left, she added on Sunday.

According to Nicholls, 20,000 UKHospitality members’ firms are still losing money, and 30,000 don’t have any cash on hand.

“I’ve never seen such a poisonous concoction of expenses. It is the ideal storm, she declared.

According to the most recent data, supply-chain disruption caused by the pandemic and the situation in Ukraine, as well as increased pay due to a personnel shortage, are all contributing to inflation in the British restaurant industry, which is currently running at 13 to 17 percent.

Cost inflation requires us to increase our prices by 20% to maintain our position. We are aware that keys are being turned in at some rental properties, according to British Beer & Pub Association CEO Emma McClarkin.

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