This week’s company insolvency statistics show accommodation and food services insolvencies were down 7% year-on-year from 3,737 in 2023 to 3,464 in 2024, and fell 29% when compared to the same month in the previous year (315).
Insolvencies in the sector saw an even bigger drop month-on-month, down 31% from 327 in November 2024 to 224 in December 2024.
However, this follows a 29% month-on-month rise in hospitality insolvencies between October and November 2024.
“For some operators, December would have been the last roll of the dice to take advantage of the festive trade and build up a war chest of reserves,” says Saxon Moseley, partner and head of leisure and hospitality at RSM UK.
“However, there’s caution ahead, as operators try…
