More than 2 pubs a day are closing in England and Wales due to their inability to meet the soaring running costs they have faced in recent years, following the difficult period of the pandemic.
This comes from analysis of data from property firm Altus Group, which found 383 pubs were demolished or converted to other businesses between January and June 2023, compared with 386 throughout 2022.
After closures, the total number of pubs in England and Wales was 39.404 at the end of the second quarter of 2023. Wales was the worst-hit region: 52 pubs closed in the first half of the year. London was also significantly affected, where 46 were closed.
Pubs have had a tough time in recent years, starting with the pandemic, then with staff shortages, rising costs and changing consumer habits.
Around a quarter of UK pubs have closed since 2000, according to the British Beer and Pub Association.
"With energy costs rising by 80% year-on-year in an environment of low growth, high inflation and high interest rates, the last thing pubs need is an average increase in business rates of £12.385 next year," said Alex Probyn, of Altus.
In the Spring Budget, Minister Jeremy Hunt granted pubs relief from the alcohol tax charged on draft beer. Some pubs also seek to increase their revenue by raising prices during peak hours.
Last week, Stonegate Group, the UK's biggest pub operator, announced it would be introducing "dynamic pricing".
SOURCE: OT
