The total number of pubs fell by more than 7,000 in a decade to below 40,000 in the first half of 2022, the lowest on record, the property consultancy said. Altus Group. Some have been demolished or converted into homes or offices.
After covid, inflation
The pubs and hospitality sector has been rocked by the Covid-19 pandemic, which has forced establishments to close during lockdowns and led to a drop in demand.
Today, the sector faces other challenges. At full inflation It reached 9.1% in the country in May, the highest in 40 years. “While pubs have proven remarkably resilient during the pandemic, they now face new challenges,” said Robert Hyden, UK head of Altus Group, citing “energy costs, inflationary pressures and tax rises”.
Between the end of 2021 and the end of June, 200 pubs in England and Wales have gone missing. The West Midlands in central England saw the biggest fall (28 in just six months), followed by London and East England, which both lost 24 firms.
According to a study by associations representing the profession British Beer and Pub Association, British Institute of Innkeeping And UK Hospitality, only 37% of companies in this sector are profitable. Rising costs of energy, materials and labor have been cited as the main factor behind the decline in profitability.
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