A third of operators in tier 3 say they do not have sufficient support to trade as a viable business and have either already closed or plan to shut.
Lumina Intelligence’s Hospitality Leaders Poll found a further 43% in the highest level of restrictions report that trading is uneconomical, but plan to stay open.
Businesses operating in tier 3 reported a severe drop-off in trade, with 35% saying sales and bookings had declined by between 80-100%.
Meanwhile 57% of operators in tier 2 have seen their trade and bookings fall off by up to 50%.
The weekly poll found 21% reporting trade and bookings have declined by as much as 80-100% since entering the high alert level of restrictions.
Of the operators that have entered tier 2, 50% said they did not have the support to continue trading as a viable business, though this was asked ahead of Rishi Sunak’s latest support package.
The amount of hospitality retailers asked who are ‘not confident’ in their future trading worsened by 9 percentage points week on week to 58%.
Precis
INSIGHT
One third in tier 3 have already closed or plan to shut
A third of operators in tier 3 say they do not have sufficient support to trade as a viable business and have either already closed or plan to shut. Lumina Intelligence’s Hospitality Leaders Poll found a further 43% in the highest level of restrictions report that trading is uneconomical, but plan to stay open. Businesses operating in tier 3 reported a severe drop-off in trade, with 35% saying sales and bookings had declined by between 80-100%. Meanwhile 57% of operators in tier 2 have seen their trade and bookings fall off by up to 50%.
