Recent insolvency statistics reveal a decline in accommodation and food services insolvencies, down 11% from 3,829 to 3,405 from February 2024 to February 2025. In February 2025 alone, the sector saw a reduction in insolvencies by 20%, totaling 271 compared to 339 in the previous year. Despite this encouraging trend, experts note that current levels are still higher than before the pandemic, and lingering economic concerns continue to impact consumer behavior.
"It's encouraging to see hospitality insolvencies down on last year, but they remain historically high when compared to pre-pandemic levels, suggesting this elevated level of insolvencies is the new normal for the industry."
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