More than a third of restaurants and hotels fear that they might have to shut permanently within the next three months, according to the Office for National Statistics.
ONS data found 34% of businesses in hospitality have “little or no confidence” that they will last beyond the end of January, making it the sector with the lowest confidence in the UK economy.
Overall, 14% of businesses fear they will suffer the same fate, according to a survey carried out in the first two weeks of November.
Meanwhile 21% of accommodation and food businesses said that they were “highly confident” about their future, 36% were “moderately confident” and 10% said they were not sure.
The ONS said that 13% of the businesses it surveyed said they had paused trading and did not intend to restart within two weeks of responding.
In the hospitality sector, 63% of companies are currently trading.
Precis
One third fear permanent closure in months
More than a third of restaurants and hotels fear that they might have to shut permanently within the next three months, according to the Office for National Statistics. ONS data found 34% of businesses in hospitality have “little or no confidence” that they will last beyond the end of January, making it the sector with the lowest confidence in the UK economy. Meanwhile 21% of accommodation and food businesses said that they were “highly confident” about their future, 36% were “moderately confident” and 10% said they were not sure. In the hospitality sector, 63% of companies are currently trading.
