Nearly 400 hospitality businesses went into liquidation in the year to March, with company failures across the sector jumping 49%.
The latest Centrix Credit Indicator shows 399 hospitality firms were placed into liquidation over the past 12 months, up from 268 a year earlier. The sector recorded the second-highest number of liquidations behind construction.
At the same time, hospitality businesses were seeking finance at a faster rate than any other sector. Credit enquiries from the industry rose 26% over the past year, ahead of agriculture and other service industries.
The contrast highlights the pressure still facing many bars, cafes, restaurants and accommodation providers, despite signs of improvement elsewhere in the economy.
Only the construction sector recorded more liquidations, with 768 companies placed into liquidation over the same period.
