Overview
- Leon co-founder John Vincent told Times Radio the government is “totally killing the restaurant industry” and said “everyone knows restaurants are done.”
- Leon has entered administration after shutting 20 sites, with Quantuma appointed to run the process and staff warned of job losses with some roles discussed with Pret a Manger.
- Official figures report more than 1,000 restaurant closures a year in the UK, with many more businesses thought to be technically insolvent.
- A survey of over 20,000 firms found two thirds of hospitality businesses expect to cut jobs after April’s increases, one in seven foresee closing, more than half plan to halt investment, and 42% intend to reduce opening hours.
- Labour has ruled out reversing recent changes, as costs rise from a higher National Living Wage to £12.71 for ages 21 and over, increased employer National Insurance, and pension auto-enrolment, with the British Retail Consortium estimating a £5bn annual hit to the sector.