Almost 10, licensed premises - including pubs, clubs and restaurants - closed permanently last year as the coronavirus crisis hammered the hospitality sector, according to new figures. A report by consultants CGA and business advisory firm AlixPartners showed there was a net reduction of 5, sites across Britain in when new openings were taken into account.
The study pointed to independent operators suffering the most severe pain, with casual dining businesses worst affected by closures as owners navigated shifting restrictions from March aimed at curbing COVID infection rates.
Industry body UKHospitality has previously estimated that , jobs were lost across the sector during the year despite government support, including the furlough scheme and access to loans and grants, to ease lockdown pain. The authors of the study warned that was tipped to deliver many further closures because of the impact of a lost crucial Christmas season and renewed lockdowns, declaring that "survival remains the name of the game".
The report was released just hours after a government adviser suggested bars and restaurants remain shut until May.
HS2 extension to Leeds could be mothballed as rail review published next week. Karl Chessell of CGA said: "With stop-start trading for much of and a widespread shutdown during what should have been a bumper Christmas, nearly 10, licensed venues have not been able to make it through, and it is sadly inevitable that thousands more casualties will follow.
Camra, which campaigns on behalf of pubs and breweries, said tax rises had added to pressure on the industry. As a result, a third of the cost of a pint is now made up of various taxes," the statement added. Young people are also consuming less alcohol, with 16 to year-olds less likely to drink than any other age group. The hardest hit areas include the North West and South East of England, both of which saw more than 60 pub closures in the first half of the year.
Greater London and the South West of England each saw more than 50 closures. Camra said on Monday that most people believe the price of a pint of beer in a pub is unaffordable. It said its survey of more than 2, adults found that only one in four said prices were about right. But the report also points to resilience in some areas of the market, including bars and cafes.
It provides optimism that major cities may rebound quickly when the hospitality sector is able to trade again. We remain very confident about the long-term future of the sector, but unfortunately there is more pain to come first. For many businesses, it will not be until mid-June, when restrictions are more fully lifted, that they will be able to trade on a profitable basis.
Businesses are burning through cash at an alarming rate as costs stack up, and within the sector there is despair as to why hospitality is at the back of the queue when it comes to reopening. The Budget is absolutely crucial to the future survival of thousands of sector businesses; a substantial package of financial support is needed to prevent greater numbers of closures across this year and beyond. It looks like you're in Asia, would you like to be redirected to the Drinks Business Asia edition?
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