There were 1,442 restaurant insolvencies in 2018, up 40 percent compared to 2017, Insolvency Service data obtained by Price Bailey showed. Four restaurant businesses a day are going bust, up from under two a day in 2010. Paul Pittman, Partner at Price Bailey, said 2018 was "easily the toughest year for the sector." Price Bailey said mid-market restaurants had expanded too quickly, resulting in too many restaurants competing for customers. "Restaurants are capital-intensive businesses," Pittman said.

Source: bd News24 January 30, 2019 13:30 UTC