Market overcrowding, as number of restaurants in England rises steeply
14 May 2018
The number of restaurants in England has increased by 13 per cent since the recession.
According to new research, there are now 25,070 restaurants in England, up from 22,230 in 2009. Market saturation and increased competition across the industry is now more intense than ever, leaving many businesses struggling, including high profile chains such as Jamie’s Italian, Prezzo, Strada, Carluccios and EAT.
As specialists to the hospitality and leisure sector, we work with SMEs putting measures in place to help business owners establish and maintain accurate, reliable and timely financial information, whether that be profit or cash focused, or both, to accurately and effectively manage the company's finances and drive growth.
With so many businesses in the sector seeking to renegotiate rents or even closing restaurants altogether, in order to reduce debts or offload underperforming sites, being able to understand and evaluate your business through real-time information on actual performance is critical and could mean the difference between survival and business failure.
Our experts at Beavis Morgan have extensive experience of working with clients in the hospitality sector and our professionals are acknowledged experts in issues affecting restaurant owners.
Through our partner businesses, BM Structured Finance and BM Advisory, we are able to help with sourcing and restructuring debt finance for SME businesses, as well as assisting with resolving issues which can impact on business performance and success, and finding innovative solutions for businesses and individuals in distress.