The success of the “Eat Out to Help Out” government scheme is unfortunately unlikely to be a complete rescue package for every company in the hospitality sector, given the serious challenges they are facing.
Our Senior Partner, John Bell, has written an article for CLH Digital – and in it he goes into detail why the scheme won’t be a recipe for success for all restaurants due to the sheer scale of the financial crisis caused by the on-going pandemic. This has been coupled with a number of other contributory factors, including:
- A steady decline in consumer spending.
- An over-saturation of restaurants.
- The mounting pressure to compete with rival chains and online delivery firms.
Restaurant insolvency specialists
In the article, John talks about the many restaurants that are facing financial difficulty – with the owners looking for advice on how best to deal with the situation.
He discusses the various insolvency options available to company directors – including a Company Voluntary Arrangement (CVA) and a Creditors’ Voluntary Liquidation (CVL).
If you are the owner of a restaurant which is having cashflow problems, we can help you find the best option for you.
Contact us on 0161 907 4044 or [email protected]
You can read the full article on page 18 here: https://issuu.com/clhnews/docs/clh_digital_issue_23/2?ff
