Six pubs a week close for good in pandemic

Around six pubs a week have been closing for good since the start of the first lockdown, according to new figures.

Data compiled by real estateadviser A lt us Group has revealed that 384 pubs have been demolished or converted for a different use over the past 14 months.

The figures, however, paint a resilient picture of the hospitality sector which has faced a flurry of challenges including months of closures, curfews and servings restrictions over the past year.

The rate of reductions slowed down from previous year, Altus said, amid financial support measures including furlough, business rates holidays and hospitality grants.

On March 20 last year, when the Prime Minister confirmed the first lockdown, there were 40,886 pubs in England and Wales including those vacant and being offered to let.

The new figures showed that on Monday, when sites reopened indoor areas, there were 40,502 pubs, reflecting–a one per cent decline.

Chancellor R is hi Sun ak announced at the Spring Budget earlier this year a £150 million financial lifeline through a new Community Ownership Fund to try and help communities protect their favourite local pubs from demolition and redevelopment.

Robert Hay ton, UK presidentof expert services at A lt us Group, said the financial support has provided sufficient liquidity to help the majority of operators stay afloat until they could reopen again.

He said: "Pubs have endured a torrid time during the pandemic but have proved remarkably resilient aided by Government interventions such as furlough, grants, rates relief and cheap loans helping to keep the 'pilot light on' for their reopening."