Ulster Pubs Faring Better Than UK Counterparts
Published on Jan 20 2015 3:16 PM in Pub/Bar/Nightclub
Pubs in Northern Ireland have been more successful in staving off the effects of recession than the rest of their UK counterparts, figures have shown.
The figures, released by trade body R3, as reported by the Belfast Telegraph, appear to show that fewer Northern Irish pubs are in danger of insolvency, with just under one in five being at what they describe as “higher than normal risk”, compared to the UK average of 27.3 per cent.
Colin Neill, chief executive of Pubs of Ulster, expressed his concern that the number is still quite high, although adding that there does seem to be improvement in the sector. “It’s an encouraging sign that things are starting to turn. It’s sporadic, and we are seeing signs of recovery,” he remarked.
Michael Neill, chairman of R3 in Northern Ireland, said the figures “show a strong performance by Northern Ireland’s hospitality sector” while concluding that pubs must not complacent in the typically quiet months after the Christmas period.