UK restaurant insolvencies jump by more than 60% in year, data shows

The hospitality industry as a whole saw a 56% rise in insolvencies over the same period, according to research by UHY Hacker Young. Photograph: Tanes Jitsawart/Getty Images/EyeEm

The number of restaurants falling into insolvency has increased by more than 60% in the past year amid worker shortages and the cost of living crisis, which has forced customers to cut back on spending.

New data from the accountancy firm UHY Hacker Young showed that 1,406 restaurants in the UK closed their doors in the 12 months to May, up 64% on the previous year.