Inflation has closed more hospitality venues than Covid

Inflation is leading to more hospitality casualties than Covid, according to new figures. Last year resulted in a net decline of 4,809 licensed premises, a higher tally than in 2021. The Hospitality Market Monitor published today by AlixPartners and CGA by NielsenIQ, shows the sector has 13,037 fewer venues  than in March 2020, when Covid restrictions curtailed trading, a decline of 10% in less than three years. The closure rate, which is net of openings, is equal to 13 sites being lost every day since March 2020, although in the final quarter of 2022 the net decline accelerated to 1,611, or 18 a day, as energy, food and other costs rose. The Times (£)