Three licensed venues a day are going dark as Britain's hospitality sector buckles

"The number of licensed premises across the UK slipped to 98,609 by the end of March, a net loss of 305 venues since December, or rather more than three closures every single day."

"Casual dining has been hit hardest, with the number of restaurants in that bracket falling by 0.9 per cent in the first quarter alone."

"April's rise in employers' national insurance contributions, the upward ratchet on business rates and persistently elevated food prices have eaten into already wafer-thin margins."

"Karl Chessell, director of hospitality operators and food at NIQ, said confidence among both businesses and consumers remained stubbornly low and warned that geopolitical crises are likely to cause more damage in the months ahead."

Over 300 pubs, bars, and restaurants in Britain have closed since the beginning of the year, driven by high wage bills, energy costs, and changing consumer behavior. The number of licensed premises fell to 98,609 by March, marking a 0.7% decline in six months. Casual dining has been particularly affected, with a 0.9% drop in the first quarter. Cost pressures from national insurance, business rates, and food prices are squeezing margins, while energy bills continue to rise due to geopolitical tensions, impacting consumer confidence.

Read at Business Matters