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Pub closures showing signs of slowing

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Pub closures showing signs of slowing 24th April 2019

Research undertaken by property firm Altus Group showed that in 2018, 76 pubs a month closed. This is down from 138 a month during the previous seven years.

Whist pub closures numbers are down, Campaign for Real Ale (Camra) has warned that the trading environment remains challenging for pubs. It said that more people are drinking at home to save money, while younger people are consuming less alcohol in general and pubs have faced a "triple whammy" of taxes in the form of high Beer Duty, VAT and business rates.

However, Alex Probyn, of Altus Group, said recent cuts to business rates had helped saying "The increase in the thresholds at which businesses, such as pubs, pay business rates coupled with the pubs discount during the last two financial years has helped ease the decline."

According to the firm's research, the number of pubs slumped from more than 54,000 to 43,000 between 2010 and 2017.

Source: BBCNearly 1,000 UK pubs shut last year, although the rate of closures is slowing, new research claims.~Nearly 1,000 UK pubs shut last year, although the rate of closures is slowing, new research claims.

Research undertaken by property firm Altus Group showed that in 2018, 76 pubs a month closed. This is down from 138 a month during the previous seven years.

Whist pub closures numbers are down, Campaign for Real Ale (Camra) has warned that the trading environment remains challenging for pubs. It said that more people are drinking at home to save money, while younger people are consuming less alcohol in general and pubs have faced a "triple whammy" of taxes in the form of high Beer Duty, VAT and business rates.

However, Alex Probyn, of Altus Group, said recent cuts to business rates had helped saying "The increase in the thresholds at which businesses, such as pubs, pay business rates coupled with the pubs discount during the last two financial years has helped ease the decline."

According to the firm's research, the number of pubs slumped from more than 54,000 to 43,000 between 2010 and 2017.

Source: BBC

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