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  • Hospitality hit ‘from both sides’ of energy price crisis as number of insolvent firms shoots up

Hospitality hit ‘from both sides’ of energy price crisis as number of insolvent firms shoots up

There has been a huge spike in the number of company insolvencies in the past year by 72 per cent, as hospitality bears the brunt of soaring energy bills.

by | 18 Sep, 2022

New figures from the Insolvency Service show pubs, bars and restaurants have been the worst affected, being “from both sides” by the cost of living crisis.

In data shared by audit, tax and advisory firm Mazars, the number of insolvencies went up 72 per cent up to 31 August, to 20,512 from 11,949 last year.

Read more at City A.M.

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