Loading ...“Doomsday Scenario:” 70% Of British Pubs May Not Survive Winter As Power Costs Skyrocket
A troubling survey commissioned by trade publication the Morning Advisor revealed the entire British pub industry could be on the brink of a tsunami of closures this winter if the government fails to intervene in power markets to ease cost pressures.
According to the survey, 70% of respondents say if electricity prices continue to soar, they will be unable to operate and forced to close up shop — this would dramatically alter the landscape of pubs by next spring.
More than 65% of the pubs surveyed said power costs rose more than 100%, 30% said utility costs jumped 200%, and 8% experienced 500% increases. Most pubs warned they couldn’t afford the exponential rise in energy costs.