Insolvency expert urges hospitality bosses to act early as failures loom

Wilkins said almost a quarter of firms surveyed were operating at a loss due to rising wages, energy bills, food costs and business rates. She urged directors to review income and costs early, renegotiate contracts, and seek advice from a licensed insolvency practitioner before cash flow problems become severe.

The warning follows Whitbread's closure of several restaurant brands, and an open letter from hospitality businesses calling for VAT to be halved.