A record 64 percent of the largest restaurant companies in the United Kingdom are now realizing major revenue loss, and as a result, many expect to raise menu prices.
Several have suffered heavy losses due to major restructuring programs they initiated after the COVID-19 pandemic and as a result of debt repayments, the Bank of England is forecasting a recession lasting longer than a year and inflation rising above 13 percent, and more licensed hospitality businesses are expected to close in the second half of 2022, as cost pressures mount for business and consumers ...
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