Commercial real estate specialists at Altus Group have released new figures which shows hundreds of pubs have closed their doors for the last time.
For the first time the number of pubs across England and Wales has fallen below 39,000 as cost pressures increase.
In November more than 34 pubs closed and Altus group has revealed that the overall number of pubs in England and Wales now stands at 38,989.
Since the start of 2020 more than 2,000 pubs have called last orders for the last time and from April 2025 Budget measures will kick in, there will then be a sharp rise in costs for all pubs.
Emma McClarkin, chief executive of the British Beer and Pub Association, said, “Brewers and pubs pour billions into the economy and support more than a million jobs, so we know that closures can have a disastrous impact for both the nation’s coffers and the job market.
“For the sector to remain a stalwart of the economy and continue to be the beating heart of our communities, the Government must swiftly deliver permanent and meaningful business rate reforms.
“We stand ready to help the Government bring in sorely-needed change that will break down the barriers that stop our sector from contributing even more to the economy and employing more people than ever before.”
Altus Group’s Alex Probyn said, “Many publicans that I speak to are extremely worried that this could be their last Christmas given the combination of hiking the amount employers will have to pay in National Insurance, increases to the minimum wage and the business rates discount being slashed from 75% to 40% in 2025.
“Many pubs simply will no longer be viable making plots even more attractive for alternative investment.”
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