#pub-closures

#pub-closures

British pubs are projected to close at the rate of one per day this year, largely due to high business taxes and additional costs from duties and regulations.

The Old White Horse closed suddenly in autumn 2022, despite surviving the pandemic. It was listed for £625,000 and sold to a mystery buyer.

The scale of these closures is completely avoidable because pubs are doing a brisk trade. Consumer demand is there, however, profits are being wiped out with sky high bills and pubs are facing yet more rates and costs come April.

In 2024, the number of pubs in England and Wales has hit a record low, with more than 400 closing their doors, reflecting ongoing economic challenges.

Tim Martin, businessman and the founder and chairman of Wetherspoons, stated: "The gradual recovery in sales and profits, following the pandemic, has continued in the current financial year." This indicates a trend towards better performance despite many closures.