Rocketing energy prices and spiraling food costs have caused pub and restaurant closures for 2022 to surpass pandemic-driven levels from the previous year, according to new data.
The latest hospitality market monitor from AlixPartners and CGA showed a decline of 1,611 hospitality premises over the fourth quarter of 2022.
Experts said the mass closures was largely due to rampant cost inflation, particularly through rising energy bills.
