Almost 4,600 hospitality firms close in year as energy bills rocket – figures

Restaurants suffered a particularly damaging year, with the number of licensed restaurants shrinking by 7.8% over the year.

Hospitality businesses have been closing at a rate of 12 per day (Liam McBurney/PA) (PA Archive)

More than 12 hospitality venues have shut each day in Britain over the past year amid the pressure of soaring energy costs, according to figures.

High inflation and the cost-of-living crisis have resulted in the closure of 4,593 licensed hospitality premises over the year to March, according to the latest hospitality market monitor from industry experts at CGA by NIQ and AlixPartners.

Nevertheless, the latest figures indicated a slight slowdown in closures in recent months amid stronger than expected consumer spending.