As government support ends, a surge in bills is causing an ‘existential threat’ to 370,000 firms, The Sunday Times reports

Anthony Pender has already taken steps to cut costs. The founder of Yummy Pubs has been closing his kitchens earlier, frying less food and shutting earlier on Sundays to save on energy costs.

This weekend, his bills will rise further. Much further.

On Saturday, the government withdrew the energy support scheme for businesses that helped protect them from the surging prices triggered by Russia’s invasion of Ukraine.

The result for Pender is that his energy bill will go up by £3,400 a month.

He said: “We are busy five nights a week and even we are struggling. We shouldn’t be in this position, but with energy relief falling away and wages going up, it will make it very hard to break even.”

To read the full story in The Sunday Times, please click here (subscription required)