1 in 10 company administrations are from the hospitality sector

It has the fourth-highest number of administrations in the UK.

Out of 759 businesses that filed for administration in the first half of the year, 79 or 10% came from the hospitality industry, an analysis by law firm Shakespeare Martineau revealed.

This is the fourth highest sector in the UK, the report revealed.

According to Shakespeare Martineau, retail, manufacturing, hospitality, and real estate were the worst-hit sectors, accounting for 57% of all administrations. Data from The Gazette Official Public Record revealed that Greater London had the most administration filings, followed by North West and South East.

“There is still uncertainty in the geopolitical landscape, which is impacting business confidence. With cash flow becoming tight, businesses are at a greater risk of going under. Supply chain issues and the rising cost of importing goods, especially in the automotive industry, have created a challenging juggling act for businesses to maintain profitability,” Andy Taylor, partner and head of restructuring at Shakespeare Martineau said.