Almost 1,300 pubs closed last year

Close to 1,300 pubs have been shut down or converted over the past year as the industry suffers amid unprecedented cost pressures.

Tuesday, 24th July 2018, 10:29 am
Updated Tuesday, 24th July 2018, 10:32 am
Food from the Gaucho restaurant chain
Food from the Gaucho restaurant chain

New research has found that 25 pubs have closed every week, with many being switched to alternative uses such as homes and offices.

Experts have said rising business rates, a property tax levied on firms, are partly to blame for the pub closures.

According to data from real estate adviser Altus Group, 1,292 pubs have disappeared from the high street, which also means they are not contributing to the Government’s business rates pot.

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Retailers and restaurant groups have been hit by similar cost pressures, and have been contending with wage increases, alongside a fall in footfall and consumer spending.

This has triggered a string of high-profile administrations within the sector. Most recently, the North West based Gaucho group went into administration closing its Cau restaurants.