BII Survey Highlights Pub Fragility
A survey of British Institute of Innkeeping (BII) members has highlighted the fragility of pubs in every community across the UK.
According to the survey, over 75% of BII members are down on the revenues they saw in 2019, with 84% of those being down by more than 10%. Nearly a third are down by more than 30% vs 2019.
In addition, 86% have reported that their profits are down vs the same period in 2019 and almost half of those were seeing profits down by more than 30%.
A worrying 30% of respondents said they currently have no cash reserves in their business, with a further 50% only having between one and three months’ worth of cash reserves.
Furthermore, 70% have debts in their business, with one in four pubs having debts of between £50,000 and over £100,000. Without support, the BII says business failure will result in much of the repayment of government backed debt will be lost.