UK restaurants going bankrupt at faster rate than during Covid

Closures rise by 60% in past year, including 453 in most recent quarter, says advisory firm Mazars

UK restaurants are going bust at a faster rate than during the Covid crisis owing to a “toxic mix” of surging energy costs, staff shortages and falling bookings.

Closures in the sector rose by 60%, with 1,567 insolvencies over 2021-22, up from 984 during 2020-21, according to a study by the advisory firm Mazars. The figure includes 453 over the past three months, up from 395 in the previous quarter.

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