Insolvencies in the Catering and Hospitality Industry: Challenges and Future Outlook
The UK catering and hospitality industry continues to face significant financial pressures, with 3,464 businesses in the sector entering insolvency in 2024. This includes hotels, restaurants, and pubs that were unable to withstand mounting economic challenges. Although this figure represents a 7% decrease from 2023’s total of 3,737 insolvencies, it remains alarmingly high, reflecting ongoing…