New research from real estate advisor Altus Group has found that 25 pubs have closed every week in the UK over the past year, with many being converted into homes and offices.
According to The Belfast Telegraph, experts have said that the closures can be partly blamed on a combination of rising business rates and a property tax levied on firms, with a total of 1,292 pubs having shut down across the UK in the past year.
Restaurant And Retail
Similar cost pressures have affected restaurant and retail groups, which have been contending with wage increases as well as a drop in footfall and consumer spending.
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© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.