Recent statistics reveal a nuanced picture for the accommodation and food services sectors regarding insolvencies. There was a 7% annual decline from 3,747 to 3,474 insolvencies, yet January 2025 saw a surge of 21% from December 2024. Saxon Moseley from RSM UK noted the unexpected rise amidst tough trading conditions, indicating resilience may be fading. Future pressures from tax increases and new regulations necessitate careful cash flow monitoring, and operators are looking for government support in the upcoming Spring Statement, expecting economic recovery later in the year.
Today's company insolvency statistics show accommodation and food services insolvencies fell 7% from 3,747 in the 12 months to January 2024 to 3,474 in the 12 months to January 2025.
While some operators managed to weather the storm at the end of last year to maximise trade during the festive period, January's figures suggest the resilience of these businesses could be starting to slip.
It's crucial that businesses closely monitor their cashflow during this period of uncertainty.
Operators will be looking to the government for some form of support in the Spring Statement.
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