WTB, MAB, JDW: Stocks to watch as UK restaurant insolvencies jumped

Highlights

• Cost of living crisis and Brexit staff shortages has caused several restaurants to become insolvent over the past year.
• According to new data from an accountancy firm, approximately 1,406 restaurants have been forced to shut shop in the past 12 months to May.

The UK cost of living and Brexit staff shortages pummelling down the industries have resulted in a sharp increase in restaurant insolvencies in the past year as customers are forced to cut back on spending.

According to data from the accountancy firm UHY Hacker Young, approximately 1,406 restaurants were forced to shut shop in the past 12 months to May. This is a drastic rise considering the number of restaurants becoming insolvent stood at 856 in 2020/2021. This is the most significant increase in insolvencies in proportional terms for the wider hospitality sector. It has witnessed a 56% rise in insolvencies over the same period last year.

Source Link-

https://kalkinemedia.com/uk/stocks/consumer/wtb-mab-jdw-stocks-to-watch-as-uk-restaurant-insolvencies-jumped