In her article for this month’s “legal” page for Pub & Bar magazine entitled “Don’t forget the effect of insolvency on your licence” (that can be downloaded below), Suzanne Davies explains what to bear in mind if financial pressures on your pub or bar business raise the spectre of insolvency.
In her article, Suzanne refers to:
- last November’s Office for National Statistics analysis, revealing that more than 11,000 pubs had closed in the UK in the previous 10 years, representing a fall of almost a quarter,
- recent research by the Altus Group showing that the cost of insolvencies rose by 31% during 2018, a year that saw insolvencies of food and beverage businesses increase by 17.9%, and
- a new CGA and CPL survey of leading industry figures indicating that over half of businesses with a focus on drink show market optimism for 2019,
copies of each of which can also be downloaded below.
NOTE: Those interested in this subject may wish to read David Clifton’s July 2019 Pub & Bar article entitled “Beware the personal consequences of boom and bust” (that can be downloaded below), in which he reflects on the woes of Jamie Oliver’s UK restaurant business and warns about the circumstances in which a director can be held personally liable on the insolvency of his company.