UK pub and bar closures in 2022 approached highest level in a decade

An analysis of statistics from the Insolvency Service shows pub and bar bankruptcies across the UK were near the highest level in a decade with 512 companies going out of business in 2022, an increase of 56% from 2021 (which saw 280 insolvencies).

Data also shows the total number of licensed premises in the UK has fallen by 15% over the last 10 years with the annual bankruptcy rate averaging 466.

The statistics will be no surprise to those in the industry experiencing these unprecedented times, which will become even more challenging once the Government’s energy support package for business begins to reduce from the end of March.