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Gloucestershire Business News

Survey reveals bleak picture in hospitality trade

More than 750,000 jobs could be lost in the pub and hospitality trade by February without further government support, leading trade bodies have warned.

According to a survey by UK Hospitality, the British Institute of Innkeeping and the British Beer & Pub Association, 76 per cent of businesses are making a loss as they continue to deal with coronavirus restrictions.

And with 50 per cent believing restrictions will reduce turnover by at least half this winter, one in four are predicted to fail by the end of the year - rising to 50 per cent by the end of the following quarter.

With furlough ending at the end of this month, the forecast is for 750,000 fewer jobs by February than the same time this year.

A joint statement from the three trade bodies said: "There can be no doubt of the devastating impact that the Government's restrictions are having on hospitality and pub businesses across the UK.

"Without urgent sector-specific support for our industry, massive business failure is imminent and hundreds of thousands of jobs will be lost around Christmas from a sector that was in growth at the beginning of this year, as well as in the supply chain that supports them.

"While there are any restrictions placed on hospitality and pubs, there must be financial support in place across all tiers of risk."

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