Posted: 13 Apr, 2018
In 2017 the number of UK restaurants entering insolvency jumped by 20% to almost 1000, as independent operators and major chains alike succumbed to pressure from rising costs and over-supply, amid the squeeze on consumer spending. The pain has continued into 2018 with wage costs rising and a number of chains have already announced their intention to close sites and seek rent reductions for remaining premises.
The situation is similar in the licensed trade with an estimated 29 pub closures every week, according to latest statistics from CAMRA.
Amidst this gloom in the last week of March ReSolve successfully completed the sale of a restaurant in the City of London, and agreed short-term finance for an operator of managed and tenanted pubs in Northern England, facilitating the restructure of its group and enabling it to return to positive cash flow.
More information about these is available on the links below:
ReSolve has particular demonstrable expertise in both these areas and seeks always to consider all options for the benefit of the business experiencing difficulties.
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