"The Old Crown is one of thousands of hospitality businesses grappling with a punishing increase in costs courtesy of a rise in the minimum wage and to business rates, which kicked in from the start of April."
"On top of that comes the Iran crisis and the resulting surge in energy prices; oil and gas are still well above prewar levels despite the drop after the overnight announcement of a two-week ceasefire."
"The only way you can make it work is to have a microwave, staff who can open a packet and put it on a plate, says Evans. That's not the reason we entered this industry."
Nick Evans, co-owner of the Old Crown Coaching Inn, struggles with profitability amid rising costs from minimum wage increases and business rates. The hospitality sector is further impacted by the Iran crisis, leading to higher energy prices. Customers are also facing reduced disposable income, affecting their spending habits. Evans and his co-investor, Mike Webb, invested heavily in the business, aiming to expand their offerings despite the challenging economic landscape.
Read at www.theguardian.com
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