19 April 2021
The hospitality industry is expected to be the hardest hit by insolvencies over the coming year with a wave of insolvencies predicted over the next one to two years.
The hospitality industry is expected to be the hardest hit by insolvencies over the coming year with a wave of insolvencies predicted over the next one to two years.
A survey of restructuring and insolvency experts has found 93 per cent expect insolvency appointments to rise over the next one to two years and 83 per cent expect a rise in the next 12 months.
Topping the list of industries where they expect to see a rise was hospitality with 90 per cent of those surveyed predicting a rise in that sector over the next year.
That was followed closed by tourism (88 per cent), retail (82 per cent) and accommodation (83 per cent).
John Fisk, chairman of the Restructuring Insolvency and Turnaround Association, said the impact of Covid hadn't started to come through into liquidations at the moment.