More than one in ten British pubs are at imminent risk of closure, with 11% of the UK’s pubs classed as technically insolvent and facing maximum credit risk, according to analysis by accountancy firm Price Bailey.
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Industry leaders are calling on Ofgem to force energy suppliers to renegotiate contracts signed with hospitality businesses at the height of the supply crisis, as price inflation continues to rise – and attract criticism – at the biggest FMCG firms, including Tesco.
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The industry has welcomed the news that government will expand its help for businesses with their energy bills, with subsidies set to cover contracts going back to December 2021.
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New Prime Minister Liz Truss has announced there will be a six-month scheme for businesses to tackle the soaring costs of energy bills.
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