Pub and bar insolvencies rise 9%

18-12-2017

Research by Ortus Secured Finance has shown there were 482 pub/bar insolvencies in 2016/17, up from the 444 reported in 2015/16.

This is the first time in four years that the number of pub/bar insolvencies has increased.

Ortus has indicated that a fall in consumer spending is likely to be a major driver behind the insolvencies.

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Jon Salisbury, managing director at Ortus Secured Finance, said: “The uptick in insolvencies show there are tough times ahead for pub and bar companies.”

“Access to funds is vital if smaller pub companies are going to survive in the current climate.

“Capital investment can help smaller, more traditional country pubs stay afloat.

“Critically, it can also help win back customers lost to newer, in-touch, purpose-built bars and restaurants.”

Source: http://www.bridgingandcommercial.co.uk/article-desc.php?id=12846