There is a need of “urgent support” for a quarter of hospitality industry firms as they have no cash reserves.
Industry bosses are urging the Treasury to cut tax for the industry as there has also been an increase in cost pressures, a survey by UKHospitality, the British Beer and Pub Association, British Institute of Innkeeping and Hospitality Ulster has revealed.
Trade groups warned that hotels, restaurants and pubs and cafes are in a “perilous state” and are facing closure.
In a joint statement, the industry groups said, “These results clearly show the perilous state our pubs, restaurants, hotels and cafes find themselves in.
“The fact that a quarter have run out of cash reserves completely is a real cause for concern.
“Those businesses are extremely vulnerable to the slightest shock forcing them to shut their doors for good.”
“If the Government want to avoid further inflationary price rises for the public and further closures across hospitality, they need to heed the message from our members to act now,” the bodies added.
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