Insolvency

Restaurant closures surge to highest ever quarterly total

27-Feb-2024 By James McAllister

Restaurant closures surged to the highest ever quarterly figure in the final quarter (Q4) of 2023, according to data obtained by Price Bailey.

Hospitality sector driving rise in company insolvencies

01-Nov-2023 By Restaurant

Ongoing challenges in the hospitality and leisure sectors have led to an increase in company insolvencies over the past 12 months, new data shows.

UKHospitality: ‘Interest rate rise only exacerbates financial challenges many are grappling with’

03-Aug-2023 By James McAllister

UKHospitality has warned that the latest interest rates rise will further exacerbate the sector’s financial challenges after the cost of borrowing rose to its highest level in 15 years.

Six restaurants ‘declared insolvent every day between January and March’

13-Jul-2023 By Restaurant

Restaurants and cafés across the UK are going insolvent at a pace not seen for more than a decade, new research shows.

Restaurant closures reach decade high

04-Jul-2023 By Restaurant

Restaurant closures reached the highest quarterly figure in a decade in the first quarter of the year, new data has shown.

Hospitality faces ‘record insolvencies’ as businesses continue to suffer economic pain

12-May-2023 By James McAllister

Company insolvencies in hospitality could hit record highs this year, a legal expert has warned, as business continue to be battered by a ‘perfect storm’ of cost pressures.

188 restaurant companies became insolvent in December 2022

15-Feb-2023 By Restaurant

Restaurant company insolvencies in December 2022 were at the highest number than the past four years, new data has shown.

Pub and bar insolvencies jump by 83% in past year

13-Feb-2023 By James McAllister

Pub and bar company insolvencies have increased by 83% in the past year, according to new data from UHY Hacker Young.

Restaurant insolvencies hit highest level in a decade

31-Jan-2023 By Restaurant

The number of restaurant businesses going bust jumped by 65% in the past 12 months to the highest level in more than a decade, new data has shown.

'Welcome surprise' as UK’s top restaurant groups return to profitability after four years of losses

09-Jan-2023 By James McAllister

The UK's top restaurant businesses have finally returned to profit after four consecutive years of losses, new research by UHY Hacker Young shows.

Restaurant insolvencies increase almost 60% in a year

21-Nov-2022 By James McAllister

Restaurant company insolvencies have increased by 59% over the past year, according to figures from international audit, tax and advisory firm Mazars.

Hospitality insolvencies rise as energy bills rocket

16-Sep-2022 By James McAllister

Insolvencies of pubs, bars and restaurants have increased 59% in the past year, according to data from the Insolvency Service, amid rocketing energy prices.

Restaurant insolvencies soar as Covid support is withdrawn

05-May-2022 By Restaurant

The number of restaurant businesses going out of business soared by 41% in the past 12 months, new data shows.

Restaurant insolvencies jump by a fifth to highest levels since pandemic

14-Mar-2022 By Restaurant

Restaurant insolvencies jumped by a fifth in the last quarter of 2021 to reach highest levels since the Coronavirus pandemic began.

Government extends debt enforcement moratorium as insolvency protections prolonged

24-Sep-2020 By James McAllister

Measures introduced under the Corporate Insolvency and Governance Act, including a restriction on landlords pursuing aggressive forms of rent recovery such as winding-up petitions, have been extended by the Government.

Restaurant and pub closures drive rise in insolvency costs

25-Feb-2019 By Sophie Witts

A rise in restaurant and pub groups entering insolvency drove a 31% increase in Government payouts to laid off staff last year.

A fifth of UK restaurants at risk of going under

30-Oct-2017 By Stefan Chomka

Up to a fifth of UK restaurants are at risk of going bust due to Brexit, according to new research by accountancy firm Moore Stephens.

Hospitality insolvencies continue to rise

09-Oct-2012 By Luke Nicholls

Hospitality and leisure (H&L) was one of the worst-hit sectors in the UK in terms of insolvencies over the past year, a new report has found.

Hospitality and leisure insolvencies up 8.6% year-on-year

26-Jun-2012 By Luke Nicholls

The number of restaurants, pubs, hotels and wider leisure businesses that went bust in May was up by 8.6 per cent against the same month in 2011, according to the latest business insolvency index from Experian.

Number of UK bars falling into administration doubles

04-Nov-2011 By Luke Nicholls

The number of UK bars appointing administrators has more than doubled between quarters two and three, reflecting the deep-set, challenging trading conditions.

Pub insolvencies fall by a third

12-Jul-2010 By Martyn Leek

The number of pub companies collapsing into insolvency dropped by a third in the second quarter of this year, according to a new study by PricewaterhouseCoopers