About 3000 hospitality businesses have closed their doors in the past 12 months, new data shows.
Credit bureau Centrix has released its latest update. which shows that while business defaults are down, company closures and liquidations are elevated.
In the hospitality sector alone, 422 companies, or 1.3 percent of the sector, entered liquidation in the past year. That was a 42 percent year-on-year increase. Restaurant liquidations were up 43 percent, takeaway food service liquidations 143 percent and cafe liquidations 27 percent.
There were 2900 hospitality businesses that ceased trading altogether, an increase of almost 40 percent.
Retail trade liquidations were up 50 percent year-on-year.
In total, 3092 companies were liquidated in the…