Over 500 restaurants went bust in Q4 2023

28th February 2024 Business | #restaurant closures

The number of restaurants closing across Britain hit a new quarterly high at the end of 2023, with more than 500 closing. 514 restaurants across England, Scotland and Wales permanently closed in the final quarter of last year, compared to 481 in Q2 2023, according to data obtained under the Freedom of Information Act by…

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Restaurant insolvencies increase

1st November 2023 Business | #restaurant closures

The number of restaurant companies becoming insolvent has risen by nearly half in the past year according to research by Mazars. The analysis showed that the the total number of restaurants which closed had  increased from 1,517 in 2021/22 to 2,214 in 2022/23, an increase of 46%.  Mazars says that restaurant groups have relied on…

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December was worst month for restaurant closures in four years

15th February 2023 Business | #restaurant closures

Restaurant company insolvencies in December of last year were the highest in at least four years says Mazars, the international audit, tax and advisory firm. 188 restaurant companies became insolvent in December 2022, 71% more than the 110 companies that failed in December 2021 and the highest monthly number of insolvencies in the sector since…

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