Research has shown that pubs in England and Wales reached the lowest level on record.
The industry struggled through Covid and now faces soaring prices and rising energy costs; the government slashed taxes to help – but this is not enough.
Atlus research shows that 400 pubs in England and Wales closed last year, with 200 shutting in the first half of this year as inflation started to impact profits. According to the research, West Midlands saw the largest closures in the first six months of 2022, with 28 businesses closing, followed by London and the East of England with 24 closures.
The chief executive of UKHospitality said:
“We need the government to take urgent steps to remove barriers to growth, help to tackle the cost crisis we're facing and support more people into work and training. Without this help, we could see thousands more pubs lost from their communities in the next few years”
“As a sector we have just weathered the hardest two years on memory, and we now face the challenge of extreme rising costs”
According to the research from British institute of Innkeeping and UK Hospitality, only 37% of hospitality businesses are currently turning a profit.