Nineteen eateries in Coventry have been declared insolvent in a restaurant crisis facing the city, new data for the last two years has shown. A total of 3,347 restaurants 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 published by Sky News.
It means businesses in this portion of the hospitality sector are going insolvent at a pace not seen for more than a decade. During the first three months of 2023, an average of six restaurants were affected every day, the figures showed.
In Coventry, firms such as Bombay Palace and Flames Cafe Bar were declared insolvent. Businesses do this when they are unable to afford the repayments for their debts. Of the r…
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