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Data published by the Office for National Statistics indicate a fifth of pubs and bars fear they won’t survive until early August despite an upturn in optimism since restrictions on hospitality were eased.
The Guardian reported that according to data gathered by the Office for National Statistics, pub and bar owners are 20 times more confident now than they were in February, when hospitality venues across the country were shut with no end in sight.
The proportion fearing collapse inside three months had fallen as low as 3% in April 2021, when beer gardens opened, but has since crept up to 19%.
The sector is struggling under about £6bn of debt, about £2.5bn of which relates to rent payments that landlords can demand in full from that date unless the government intervenes.
Businesses have also reported problems extending the term of bounceback loans that banks are supposed to make available for up to 10-year terms.