Eating out in the UK may soon become a problem as the country’s restaurants are hit by a massive bankruptcy. The British mass media warn about this, referring to data from the consulting company Mazars. At the same time, the Christmas season does not make restaurateurs anxious, pessimism only grows.
The total number of bankrupt restaurants in Great Britain has increased by 60% in the last year. The main reasons were the high cost of living, low demand, and high costs. In total, 1,567 restaurants closed their doors, 453 of them in the last three months. Last year, the number of restaurants that closed was 964.
“The number of UK restaurant bankruptcies is higher now than during the pandemic. An increase in costs, an increase in the cost of credit, and a weakening of consumer demand create a negative combination,” said Rebecca Dacre, one of Mazars’ experts. She assures that restaurateurs say they have never seen so many negative elements come together.
At the same time, restaurateurs do not expect high demand in the winter season. “The restaurant is facing a very difficult winter period. Under normal conditions, the Christmas period is a period of business support,” the expert noted.