Recent data has revealed a troubling trend within England and Wales as pubs disappear at a rate exceeding two per day.
During the second quarter of 2023, the closure of these establishments surged by 50%, surpassing the numbers recorded in the first three months of the year.
The Commercial real estate firm Altus Group reports that 383 pubs have either been demolished or redeveloped, approaching the figure for the entire year 2022, which witnessed 386 permanent closures.
Wales saw 52 pubs close their doors during the first half of this year, surpassing any English region in pub losses. London and the North West of England also lost 46 pubs each during this period.
In response to these alarming statistics, the British Beer and Pub Association is urgently calling for an extension of business rates relief to prevent further permanent closures and to support the survival of these community establishments, many of which rely on modern Pub EPOS Systems for efficient operations.
Currently, pubs receive a 75% business rate discount for the 2023/2024 tax year, capped at £110,000 per business. Unfortunately, this discount is set to expire at the end of the current financial year
Future Implications of 2 Pubs a Day Closing
Rising Costs: The expected rise in business rates could further burden surviving pubs, potentially leading to higher prices for customers and making it more challenging for pubs to stay competitive.
Loss of Tourism: One of the national attractions within the UK are both branded and heritage pubs and if The government doesn’t consider additional measures to support the pub industry if could impact the tourism-related sector.
Impact on Suppliers: Pubs are customers for various suppliers, including breweries, food producers, and distributors. The closure of pubs could negatively affect these businesses and potentially lead to job losses in those sectors.
Government Response: The government may need to consider additional measures to support the pub industry, such as extending business rates relief or introducing policies to encourage the reopening of closed pubs.
