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PwC reveals growth in leisure insolvencies

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New corporate insolvency data from PricewaterhouseCoopers (PwC) has shown a growth in the number of hospitality and leisure sector businesses failing over the last 12 months.

The number of insolvencies for the fourth quarter of 2011 was up by 30 per cent compared with Q4 2010. PwC said a total of 375 firms across the sector had collapsed in Q4 2011.

David Chubb, business recovery partner and hospitality and leisure specialist at PwC, said the Q4 2011 data was a concern given the usual positive impact of the Christmas period.

"Q4 would normally be seen as a good time for bars and restaurants because of the festive season so it is worrying that both these sectors saw a marked increase in the number of insolvencies," he said.

"We would normally expect to see more casualties in the post-Christmas period and we will have to wait to see whether this does occur or whether the early Christmas gloom resulted in some businesses failing earlier than would normally be the case."

Details: www.pwc.com

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New corporate insolvency data from PricewaterhouseCoopers (PwC) has shown a growth in the number of hospitality and leisure sector businesses failing over the last 12 months.
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