Home Business news Two-thirds of UK’s top restaurants in the red after Brexit, Covid and...

Two-thirds of UK’s top restaurants in the red after Brexit, Covid and inflation

34

Meanwhile £700m of support funds in business rates relief remains unpaid by local councils

Debt repayments, staff shortages and rising energy bills have pushed almost two-thirds of the UK’s top 100 restaurants into the red, according to research that reveals the impact of the pandemic, Brexit and the cost of living crisis on the hospitality sector.

With a recession looming and further increases in energy bills weighing on businesses, a separate report found that £700m of business rates relief remains unpaid with only half of English councils paying out the support funds.

Continue reading…Meanwhile £700m of support funds in business rates relief remains unpaid by local councilsDebt repayments, staff shortages and rising energy bills have pushed almost two-thirds of the UK’s top 100 restaurants into the red, according to research that reveals the impact of the pandemic, Brexit and the cost of living crisis on the hospitality sector.With a recession looming and further increases in energy bills weighing on businesses, a separate report found that £700m of business rates relief remains unpaid with only half of English councils paying out the support funds. Continue reading…