Crisis to leave lasting legacy without more support and timely lifting of restrictions
Giving evidence to the House of Commons Treasury Committee hearing on Monday, UKHospitality CEO, Kate Nicholls, highlighted the need for further Government support for the sector, which remains unable to trade profitably under current restrictions.
She highlighted that thousands of hospitality businesses are all in jeopardy due to months of enforced closure, more than a year of strict trading conditions and ongoing uncertainty. The hospitality sector has lost more than £87bn over the last year, leaving businesses deeply in debt and at risk of suffering “economic long Covid” if the right support is not forthcoming.
Nicholls said: “Current government support is not sufficient to cover the sustained hit on revenues that businesses in the sector have suffered following months of lockdown and more than a year of tough trading restrictions. Average hospitality monthly costs are between £10,000 and £20,000, while the average government support is £3,000 per month.”…