UK restaurants going bankrupt at faster rate than during Covid

More than a third of hospitality businesses could go bust by early 2023, UK Hospitality and the British Beer and Pub Association said last month. Photograph: Alberto Pezzali/AP

UK restaurants are going bust at a faster rate than during the Covid crisis owing to a “toxic mix” of surging energy costs, staff shortages and falling bookings.

Closures in the sector rose by 60%, with 1,567 insolvencies over 2021-22, up from 984 during 2020-21, according to a study by the advisory firm Mazars. The figure includes 453 over the past three months, up from 395 in the previous quarter.