Beware of the pub: warnings over ‘surge’ in insolvencies as hospitality sector hits the rocks
If you’re considering booking a restaurant or gastro pub for a belated festive meal for your work colleagues, then beware. Due to the Government’s warnings about the Omicron variant of Covid-19 the hospitality industry has had a poor Christmas with thousands of bookings cancelled putting many on the brink of insolvency.
Before parting with a hefty deposit for a meal check out the business with Checkaco to check the company isn’t about to go bust – taking with it your deposit.
Patrick Dardis should know as he’s the head of Young’s – the pub and restaurant chain. He said there would be a surge in collapses due to the sector’s lack of earnings during the Christmas period. Speaking on BBC Radio 4’s Today programme he said: “Unfortunately, with the latest fear campaign that’s being run, it’s damaging so many businesses that could have possibly survived, and as a consequence, thousands and thousands of businesses will now collapse in January.
“There are a lot of individual owner-operators who’ve been running their businesses for years and have thrown the kitchen sink – people have lost their marriages, they’re losing their livelihoods, and this is the last straw. This is the bit that they were desperately clinging on to and it’s been taken away from them without any support from government.”
Before you pay a pub or restaurant this year remember they may be about to go bust – meaning you’ll not only lose your and your colleagues’ cash – but you won’t get that meal either. So if in doubt always do a Checkaco.
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