Anthony Worrall Thompson has closed four of his restuarants, including The Lamb in Henley
|
Restaurants are continuing to struggle in the recession as consumers cut back on spending and businesses stop corporate entertaining.
Latest figures show restaurants account for 45 per cent of all business closures in the hospitality industry in the three months leading up to Christmas. The study by PricewaterhouseCoopers (PwC) revealed 363 restaurants went bankrupt last year – up by almost a third on the previous year.
Even celebrity chefs aren’t safe from the crunch, with Raymond Blanc closing the Manchester-based Blanc Brasserie in February and Anthony Worrall Thompson following suit with the closure of four of his restaurants. The pub industry has also been hit, 4,000 closures are predicted by 2010.
A recent poll by PwC asking consumers what would be first choice if they were forced to cut spending placed eating out and takeaways at the top of the list. Though fast food chains seem to be coming out on top of the crunch, with customers taking advantage of cheap deals. Domino’s announced its profits grew by almost a quarter in 2008, while KFC announced a major expansion drive.
COMMENTS
whatever be recession. there is no end in eating. may be people try to cut off their spending money sure they will be back again. because it is more essential
copper sinks
I can imagine that many middle class families are limiting certain “luxury items” such as going out to fancy restaurants and gourmet coffee shops. So, hence you will see a growth in the home cooking industry
stop Smoking
ADD YOUR COMMENT
| 
Win tickets to the National Home Improvement Show!