A total of 29 food and drink businesses in Nottinghamshire have been declared insolvent in a restaurant crisis sweeping the country. New data has revealed that 3,347 restaurants, pubs and cafes across the UK have been unable to pay their debts in the two years to March 2023, according to data from the Insolvency Service.
The statistics reveal companies going insolvent at a pace not seen for more than a decade. In the first three months of 2023, an average of six restaurants were affected every day, according to the figures, reports Sky News. Businesses declare insolvency when they are unable to afford the repayments for their debts.
In 98 percent of cases it ends with the business shutting. In Nottingham restaurants including Esculent, …
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