UK pub bankruptcies soar on strong inflation: data

The number of pubs and bars forced to shut their doors almost doubled last year as sky-high inflation hit business owners and consumers, data showed Monday.

A total 512 establishments went out of business compared to 280 in 2021, said a study by accountancy group UHY Hacker Young.

“Pub and bar companies have faced increasing costs and concerns over falling sales,” it said.

“Energy prices have soared and hit pub companies’ wallets hard throughout the winter after the government removed support for businesses’ energy bills.”

In addition, “the cost-of-living crisis, including interest rate rises, has impacted consumer habits, making them less likely to spend on ‘non-essentials’, including a drink or a meal at a pub”.

The study said that business was impacted also by rail strikes, part of ongoing mass walkouts in Britain by public and private sector workers as they seek better pay. –Agence France-Presse