One in three hospitality businesses fear they will not survive the next three months
The accommodation and foodservice sectors have the highest percentage of businesses with no or low confidence that they would survive the next three months at 34%, according to Office for National Statistics data.
The business insights report, based on responses to a fortnightly business survey, also found that one in four businesses in the hospitality industry are expecting to close a site.
Accommodation and foodservice had the lowest percentage of businesses currently trading, at 63%, as well as the highest percentage experiencing a decrease in turnover (79%).
Hospitality and construction had the highest percentages of businesses with between zero and three months' cash reserves, at 44% and 40% respectively.