Restaurants go to the wall

THE number of restaurants going bust has soared by nearly 60% in the past year, figures suggest.

There were 1,567 restaurant company insolvencies in the year to September.

That was up from 984 in the previous 12 months, business advisory specialists Mazars found.

The run-up to Christmas is usually a bumper period for hospitality businesses, but they are facing a slowdown in spending.

Mazars partner Rebecca Dacre said: “Many face a real battle to keep afloat.”