Charting the decline of the Great British pub is as much a national pastime as watching house prices. This week, brought fresh hand wringing. Some 150 pubs closed over the first three months of this year in England and Wales, according to widely-covered statistics from Altus Group.
However, the woes of pubs are less terminal than declinists claim. A proportion reopen under new management. And some trends responsible for boozer gloom are themselves positive.
True, the closure rate has picked up from last year. High energy prices continue to push many landlords out of business.
Some 6,600 pubs — 14 per cent of the total — shut down in England and Wales over the past decade. Contributory factors included high taxes on beer and the mismanagement of some chains as highly leveraged property plays.
- The Financial Times. To read the full story click here
