‘Pub’ closures in England and Wales jumped 47% in the first quarter of 2023 compared to a year earlier as a result of inflation, according to a study published on Tuesday.
The reason for the closure is an increase in electricity bills, while customers pay much more for pints of beer and other drinks and foods, according to a study by the real estate consultancy. Altos groupbased on government data.
The British CEO last year ended a major financial aid after Covid-19, which hit companies hard, and recently cut subsidies to pay energy bills.
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All this makes pubs “More attractive alternative investment“, that is, converting them into houses or apartments,” he points out Alex ProbynHead of real estate tax Altos group.
A total of 153 “pubs” closed in the first quarter, compared to 104 in the first three months of 2022, according to altus.
UK annual inflation remains stuck in double digits and in February it accelerated to 10.4%.
Source: Agence France-Presse
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