British pubs are in danger, and are facing a much higher risk of company insolvency than businesses across all sectors, reports R3.
The trade body for insolvency services puts the proportion of ‘at-risk’ pubs at 34%, more than a third of the nation’s bars and public houses, while fewer than a quarter (23%) of all companies are in the same situation if all of the sectors of the British economy are considered.
In the south-east, the at-risk figure peaks at 39%, and stands at 37% in London, proving that it’s not only pubs in remote areas that have seen a dip in trade in recent years.
“London is full of bars and pubs, many of which are offering incentives and discounts to try and get people through the door,” says R3 president Lee Manning.
“But, for some, even this will not be enough.”
Pubs facing the risk of company insolvency – whether on their own, or as part of a struggling chain – can seek insolvency advice from our experts, and take prompt action to help improve their chances of survival.
With the recession easing in many sectors, simply hanging on a little longer could prove crucial as Britons’ cash for discretionary spending begins to grow once again.