The hospitality sector is facing a substantial increase in operating costs as the Chancellor confirms a 6.7% rise in the National Living Wage, set to take effect in April 2025. The uplift will raise the hourly rate from £11.44 to £12.21, directly impacting more than 3 million workers and adding an estimated £1.9bn to the hospitality sector’s wage bill.
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More than one in ten British pubs are at imminent risk of closure, with 11% of the UK’s pubs classed as technically insolvent and facing maximum credit risk, according to analysis by accountancy firm Price Bailey.
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Italian restaurant chain Carluccio’s has completed its bailout deal with Boparan Restaurant Group (BRG), saving 30 of its 71 restaurants and costing 1,000 furloughed workers their jobs.
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M Restaurants has introduced a new fixed £10 ‘starting wage’ and has called on the hospitality industry to follow suit.
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