Posted on 11/23/2022 9:58:12 AM PST by SeekAndFind
Be our guest—at the unemployment bureau. Restaurants are failing faster in the United Kingdom than they did during the economically devastating COVID-19 pandemic, leading experts to predict over a third of UK “hospitality businesses” will close by 2023. I guess inflation wasn’t transitory there either.
The Guardian blamed a “‘toxic mix’ of surging energy costs, staff shortages and falling bookings” for the crisis, as restaurant closures rose 60% this past year. And it’s not just restaurants affected, according to Steve Bannon, who posted on GETTR that “50% of all British small business said they would in all likelihood close shop after the holidays— in first or second Quarter of ‘23.” Food and energy costs have gone up with inflation, which also reduced people’s disposable income, putting many restaurants and other businesses at risk of imminent closure.
UK Hospitality, the British Beer and Pub Association, and other industry groups predicted the mass restaurant closures, the Guardian reported. “Insolvencies of restaurant businesses are now happening at a far faster rate than during Covid,” Rebecca Dacre, a partner for the advisory firm Mazars, said. “It is a very toxic mix of rising input costs, sharply rising finance costs and weak demand. Most restaurateurs have not seen this combination of negative factors before.”
Over 50% of Britons intend to cut their “essential spending,” the Guardian reported, citing Barclaycard. That means businesses, which had briefly seen an increase in business after COVID lockdowns were lifted, are unlikely to increase revenues much during the usually-busy Christmas season. And many businesses make most of their annual profits at Christmas.
“The Christmas trading period is usually a bumper period for hospitality businesses. However, restaurants will be bracing themselves for a very tough winter and many face a real battle to keep afloat,” Dacre explained.
(Excerpt) Read more at pjmedia.com ...
Guess we’re all going to have to learn to cook again — IF we can find the needed ingredients at the supermarket.
I’ve said for years that if everyone spent their “discretionary” income like my wife and I do, the economy would collapse in a week.
It may finally be happening.
” staff shortages”
Why, I thought all the imported third world illegal aliens would dominate the workforce allowing Charles and Dierdre to live a life of leisure in jolly ol’ England.
There is positive aspect to this news.
Obesity in UK will drop by as much as 33% next year.
Think about the money saved in healthcare with that.
how will these third worlder curry cooks survive?
Upon my return from vacation in Australia many years ago, a friend asked "How was the food?".
To which I replied "Think 'British prison food"......
In China, Xi Jinping is (re) establishing state-run, communal kitchens/cafeterias. Every area will have them.
The experiment with free markets helped develop “workers capital” but otherwise was too messy.
I imagine the WEF likes that idea.
I’ve spent a bit of time in the UK - London, traveled about England, Scotland, Ireland — and most of the food wasn’t bad at all IMO. Don’t know about home-cooking but bed & breakfast fare was OK. There are a couple of restaurants in London and Ireland I’d love to go back to.
I was thinking of a trip to Northern Italy, however I read on priceline listings that the hotels normally require a credit card, which I don’t have. I only have a debit card.
Here in my part of Florida the restaurants often want $14 and up just for the entree.
I can eat at home for a week for less than a dinner out.
I read the other day that a top UK chef wanted a 155 pounds per patron for his meals.
Was all over the EU in 2019 and won't be going back.
I don't think its safe with the addicts on the street and the impact of uncontrolled immigration.
Also, don't like the prospects of instant travel restrictions, as I refuse to take the shot.
I have read credible sources saying that number will be 70%.
Can’t serve food if there isn’t any.
I made a large deposit at the bank about a year ago and the teller said, “This is very dangerous, move it quickly. If someone gets your debit card number somehow they can empty your account!
I said, “That’s why I don’t have a PIN number nor a debit card.” She looked at me with a shocked face.
I have used credit cards all over Europe a lot with no problems and gotten hundreds of dollars in cash back.
By the way, northern Italy is dramarically beautiful but very expensive and not as friendly and fun as central and south, imo. Italy from about Siena south is more my glass of wine. And don’t ever go in August, everyone is on vacation and overwhelming every service and locale, especially near/at the ocean.
Surging energy costs?? I thought renewables were substantially cheaper than coal and nat gas fired electric generation. Surely those in charge wouldn’t be fibbing to us, would they?
RE: The Brits are not known for their cuisine.
Irish Joke: The British conquered the world to get away from their own cooking. 😅😀😝🇬🇧🌏🌎
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