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These are turbulent times for the restaurant sector – with many restaurateurs being forced to close down or sell their business.

A lot of restaurants and eateries have been caught up in a financial crisis that’s been sparked by a number of factors including rising costs and ongoing economic uncertainty. This has already lead to multiple closures of big and small restaurant chains including Jamie’s Italian, Prezzo and Gourmet Burger Kitchen, and further closures in the sector are predicted.

Clarke Bell have the experience to help restaurant owners when they are facing severe cash flow problems.

Problems in the restaurant sector

The seemingly constant cash flow concerns and growing problems in the restaurant sector are being sparked by a number contributing factors, including:

  • The implementation of the National Living Wage and the apprenticeship levy.
  • The increasing cost of ingredients.
  • A steady decline in consumer confidence, putting a squeeze on public spending.
  • An over-saturation of restaurants, resulting in more choice and less loyalty from most consumers.
  • The pressure to compete with rival chains, smaller pop-up restaurants and online delivery firms.
  • Changing lifestyle trends – like experiential dining, healthy eating and sustainable food sourcing – are putting pressure on restaurants to constantly adapt.

These factors are making it increasingly difficult for a lot of restaurants to make ends meet.

Restaurant insolvency specialists

These mounting pressures are likely to lead to many more insolvencies in the restaurant sector. If your company is among those facing uncertainty and cash flow problems, or is close to liquidation, then it is vital that you get expert advice as soon as possible.

At Clarke Bell, our specialist Licensed Insolvency Practitioners have over 28 years of experience in providing insolvency advice for company owners. We can give you the expert help you need – and our initial is free.

We’ll help you decide which option is best for your restaurant. This might include closing down your company with a Creditors’ Voluntary Liquidation (CVL).

A CVL is a popular process for proactively dealing with a company with severe cash flow problems – with about 10,000 companies each year taking this route. However, there are other options. So, we will always tell you what is the best option for your particular situation.

The benefits of a CVL

There are many benefits to liquidating your company with a CVL, including:

  • You can close down your company in an affordable way.
  • Your business debts will be taken care of.
  • Your legal obligations will be met.
  • You will resolve a stressful situation.
  • You can have a fresh start to explore other business opportunities.

At Clarke Bell, we can provide you with a very affordable liquidation service from just £1,995 +VAT.

Do you need help now?

Is your restaurant business dealing with mounting bills?

Are you unsure who to pay first?

Are you facing the uncertainty of cash flow problems and potential liquidation?

Whatever your situation, getting the right kind of insolvency advice, early enough, could make all the difference.

Our specialists at Clarke Bell strive to make the liquidation process as simple as possible.

We have been trading for more than 28 years – so we will know how to help you and your company.

If a Creditors’ Voluntary Liquidation isn’t the best option for you, we’ll tell you what is.

They kept me properly informed throughout the whole process with full explanations to my many questions….their patience and empathy meant so much to me. My heartfelt thanks to them all!

Thanks to the help I received from Clarke Bell, I am able to pay off my debts in a reasonable and realistic manner.

Thank you for all your help with the liquidation matters. You were a joy to deal with.

Sorting out cashflow problems at a restaurant

Background The restaurant started trading and employed fifteen members of staff. The owners did lots of marketing which attracted a good flow of customers throughout the initial period of trade. The director was confident that trade would further increase once word of mouth began to spread throughout the local area. The problems Unfortunately, due to…

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