London Daily

Focus on the big picture.
Tuesday, Aug 05, 2025

Almost 4,600 hospitality firms close in year as energy bills rocket – figures

Almost 4,600 hospitality firms close in year as energy bills rocket – figures

Restaurants suffered a particularly damaging year, with the number of licensed restaurants shrinking by 7.8% over the year.
More than 12 hospitality venues have shut each day in Britain over the past year amid the pressure of soaring energy costs, according to figures.

High inflation and the cost-of-living crisis have resulted in the closure of 4,593 licensed hospitality premises over the year to March, according to the latest hospitality market monitor from industry experts at CGA by NIQ and AlixPartners.

Nevertheless, the latest figures indicated a slight slowdown in closures in recent months amid stronger than expected consumer spending.

The new data showed that the number of hospitality venues has decreased by 4.3% since March 2022, representing 12.6 closures each day.

Restaurants suffered a particularly damaging year, with the number of licensed restaurants shrinking by 7.8% over the year.

The data comes a week after Italian dining chain Prezzo revealed plans to shut 46 restaurants as a result of soaring energy and food costs, putting 810 jobs at risk.

Meanwhile, there was a 2.5% decline in high street pubs over the year.

Karl Chessell, CGA by NIQ’s director for hospitality operators and food, said: “Each of the 4,593 closures over the last 12 months represents a sad loss of jobs and the permanent withdrawal of a community asset.”

The overall figures showed that 756 venues shut in the first three months of 2023, although this represented a slowdown in the recent rate of closures. It was the equivalent to 8.4 closures each day.

Mr Chessell added: “It is at least encouraging that losses have slowed in the first few months of the year — a welcome indicator that demand for hospitality remains strong.

“However, the recent cut in Government support on energy bills, alongside a hike in minimum wage rates and the ongoing tax burden, now leaves thousands more fragile venues at risk of closure.”

Graeme Smith, AlixPartners’ managing director, said: “Tellingly, this latest study underlines the growing divide between larger and smaller operators, reflecting the varied ability to withstand the continued headwinds the sector faces.

“The closure rate of independent businesses – (which are) the life blood and entrepreneurial driving force of the sector – continues to vastly outstrip the better-funded corporates and the branded operators.

“It highlights the need for Government support to be extended, especially on energy costs, if small (often family-owned) businesses are to survive.”

On Friday, trade bodies representing pubs and hospitality businesses called for urgent Government intervention over energy costs and contracts.

The British Beer & Pub Association, UKHospitality and British Institute of Innkeeping wrote to Amanda Solloway, minister for energy consumers and affordability, to call for further support to prevent “thousands of job losses”.

A Government spokesperson: “We have faced a period of exceptional economic challenges, caused by the pandemic and Putin’s illegal invasion of Ukraine.

“Through this period, the Government has acted swiftly to provide businesses with an unprecedented package of support which, as of April, has saved them £5.9 billion on energy costs – amounting to over £30 million a day and enabling some to only pay around half of predicted wholesale energy costs.

“Global energy prices have fallen significantly and are now at their lowest level since before Russia’s illegal invasion of Ukraine. The new level of government support reflects this welcome fall in prices, but we will continue to stand by businesses, as we have done over the winter.”
Newsletter

Related Articles

0:00
0:00
Close
Elon Musk Receives $23.7 Billion Tesla Stock Award
Texas House Paralyzed After Democrats Walk Out Over Redistricting
Mexican Cartels Complicate Sheinbaum’s U.S. Security Talks
Mark Zuckerberg Declares War on the iPhone
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Matt Taibbi Slams Media for Role in Russiagate Narrative
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Nationwide Protests Erupt in Brazil Demanding Presidential Resignation
Parents Abandon Child at Barcelona Airport Over Passport Issue
Mystery Surrounds Death of Brazilian Woman with iPhones Glued to Her Body
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
U.S. Opens Official Investigation into Former Trump Prosecutor Jack Smith
Leaked audio of Canada's new PM Mark Carney admitting the truth about the Net Zero agenda: "We're gonna make a lot of money off of this."
China Enforces Comprehensive Ban on Cryptocurrency Activities
Absolutely 100% Realistic EVO Series Doll by EXDOLL (Chinese Company) used mainly for carnal purposes
World Economic Forum founder Klaus Schwab: "In this new world, we must accept... total transparency. You have to get used to it. You have to behave accordingly. But if you have nothing to hide, you shouldn't be afraid."
Meet Mufti Hamid Patel, head of Office for Standards in Education in Pakistan
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
×