Updated: Aug 2
It has just been revealed that 150 pubs permanently closed in England and Wales this first quarter.
The decrease in revenues caused by Londoners budgeting less towards going out, added to the increase of costs (from this month, the average energy bill could rise by 18,4k / year for a pub), results in a serious challenge to keep the hospitality businesses running.
Not to mention the massive staff shortage disruptions (it was already volatile post the covid pandemic, but it is becoming markedly worse). Some pubs are finding it increasingly difficult to keep hold of staff because they no longer can afford to live in big cities like London anymore. As a result, landlords and managers must multitask to keep their business running.
While big chains may be well equipped to weather the current economic situation, it’s much harder for independent businesses to keep their business afloat.
As a result, one of the pubs that are part of our project is unfortunately temporarily closed for financial difficulties due to rising costs and debts from the covid period. Others struggle to have a long-term vision and are on the edge of closing down.
More pubs have reached out to us to join our programme, especially ones in central London, as they face both rising energy bills and decreasing footpaths from office workers since the rise of work from home policies.
This situation is terribly depressing but we can all do something to support these businesses that are part of the UK’s DNA!
Even though prices are continually rising, it’s nice to know that there are businesses out there that are working to help you have a good time on a budget. We at CityStack are dedicated to supporting independent pubs and helping people do the things they love whilst saving money. If you’re interested in saving £100 at amazing indie pubs, take a look at our packs of money saving beer mats.