9 December 2020: For many publicans, restaurateurs and others in the hospitality industry last orders might be about to be called. Whilst unfathomable amounts of money are being made available to keep businesses alive, combined with the protections afforded to them from landlords, creditors and HMRC, it may still not be enough to see those in the hospitality sector through until normality resumes.
Eat-Out-To-Help-Out saw a massive boost in diners but along with that probably came a massive boost in coronavirus infections. Not every local pub that once relied on diners and drinkers can relaunch themselves as a successful takeaway restaurant and make the sorts of money they were doing before. The costs of repurposing their premises do not make this a viable option so many are choosing to simply remain closed. Nor can they survive by selling scotch eggs alone.
Combine all of this with lockdown and the tiers system over the peak trading season and we have a recipe for financial disaster. Business owners in hospitality need to be careful, creative and resourceful in order to survive this winter.
At BRI Business Recovery and Insolvency we are advising a number of stakeholders of pubs, restaurants, cafes and venues about their options and specifically how they try to ensure they will be open for business in Spring/Summer 2021 and beyond. If you would like to find out more about how we can help you to avoid becoming a client of ours then please do speak any of the management team at BRI.