35 of top 100 restaurants in United Kingdom are losing money
You can be one of the best but that doesn’t mean you ain’t losing money.
This is the case for more than a third of United Kingdom’s top 100 restaurants.
Apparently, 35 of this 100 restaurant chains are now struggling to make money amid growing competition with fast-food and delivery chains.
Data compiled by accountancy firm UHY Hacker Young, as cited by international news outfit Independent, showed that 35 of the UK’s top 100 restaurant groups are in the red, marking a 75 percent surge on the equivalent number this time last year, with no sign of respite.
This, as Britain becomes oversaturated with “fast casual” dining chains on overcrowded high streets, as UHY said.
“A rising minimum wage, apprenticeship levies, a weak pound and surging popularity of delivery services have also crippled balance sheets,” the report said.