Pub insolvency rates ‘have decreased’

Posted 12/07/2010

The number of pubs falling into insolvency

A study carried out by PricewaterhouseCoopers (PwC) showed that 60 pubs filed for insolvency

However, PwC spokesperson David Chubb warned against those in the pub sector being too optimistic, as he pointed out that trading conditions are still difficult.

‘The statistics do not fully illustrate the extent of the problems in the sector. Some groups are being restructured without entering into insolvency

He added that any interest rate increases – which would affect mortgage repayments for the general public – could have an impact of trade in the coming months.

The PwC data also showed that restaurant insolvencies were up by five per cent in the second quarter of 2010 when compared with the first three months of the year.

UK debt statistics recently published by Credit Action found the number of personal insolvencies in Britain to have increased by 18 per cent since last year.