Government policy changes around NICs and taxation, combined with tough market conditions, have led to a fall in venue numbers in the first half of 2025. There were 98,746 operating sites at the end of June, marking a decrease of 374 from the beginning of the year, equating to 62 net closures monthly. This decline reflects a 14.2% reduction since the start of the COVID-19 pandemic. The food-led sector contracted by 2.9%, while drink-led venues saw a 1.0% increase. Manchester's market showed resilience amidst these trends.
The latest hospitality closures mean the sector is now 14.2% smaller (net) than it was at the start of the COVID-19 pandemic in March 2020, having recorded more than 16,000 net closures in the ensuing five-year period.
The report shows how restaurants and smaller businesses have borne the brunt of closures so far in 2025. The food-led sector has contracted by 2.9% in just one year, in contrast to a 1.0% increase in drink-led venues.
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