Losses at the UK’ Top 100 restaurant groups increased 94% to £151m last year, growing from a loss of £78m the year before*, our research shows.
Turnover for the industry in March 2020 was just £1.2bn, down from £2.6bn last March.
Andrew Timms has been promoted to Managing Partner of the Nottingham office.
Our research shows that the number of petitions to wind up restaurants over unpaid bills has jumped to 53 so far this year*, up 165% from 20 in the same period last year.
Many SMEs are making errors on their applications for the Government’s furlough scheme, meaning they will have to repay thousands of pounds back to HMRC later.
The number of breweries in the UK has stalled for the second year in a row (dropping by one over the last year to 2,273), as growth in the craft beer sector slows.
Our Manchester corporate finance team, led by Adnan Sajid, have provided Financial Due Diligence services to support Maven Capital Partners’ seven figure funding round in Chester-based Intilery.com Limited.
Clive Gawthorpe has been appointed by the Chartered Institute of Taxation to chair their European branch.
Subarna Banerjee has been announced as the new Managing Partner of our London and Nottingham firm.
Following HMRC’s refusal to stop chasing taxpayers caught by the controversial ‘loan charge’ during the Coronavirus lockdown, the tax authority should do more to reassure taxpayers that it will not penalise them.