The number of restaurant closures in London has steadily increased for the last five years, with this year’s figure hitting 117.
A spokesman for the Sustainability Restaurant Association (SRA) said that the major reason for closures was the increase in competition and a change in dining habits.
The SRA also said that an increase in the living wage and rents were other reasons for closures.
This year also witnessed the fourth-highest number of restaurant openings in London.
167 restaurants opened, however, this is the lowest it has been for four years.
The SRA said that it is still a lucrative market and owning a restaurant remains a popular entity.
Owners will have to tweak or re-invent their ideas to beat off competition with plant-based meals becoming more popular.
Restaurant owner, An Hu, who owns a Vietnamese restaurant in Islington had to close earlier this year but has now reopened.
He said that “it was really sad when we closed but we just didn’t have an option, the costs just became too much.”
He said “the competition in this area is really high and when something become unpopular, you’re really going to struggle.”
An Hu was able to re-open his restaurant this year after changing his menu.
“We tweaked our menu a bit so that we catered more for vegans and vegetarians,” he said.
The SRA said “people still want to eat out” and remain adamant that despite record closures, there will not be a restaurant shortage in the near future.
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HeadlineLondon restaurant closures hit five-year high, as owners need to ‘reinvent’ outlets
Short HeadlineRecord number of restaurant closures in London
Standfirst117 restaurants closed this year according to restaurant guide, Harden’s
The number of restaurant closures in London has steadily increased for the last five years, with this year’s figure hitting 117.
A spokesman for the Sustainability Restaurant Association (SRA) said that the major reason for closures was the increase in competition and a change in dining habits.
The SRA also said that an increase in the living wage and rents were other reasons for closures.
This year also witnessed the fourth-highest number of restaurant openings in London.
167 restaurants opened, however, this is the lowest it has been for four years.
The SRA said that it is still a lucrative market and owning a restaurant remains a popular entity.
Owners will have to tweak or re-invent their ideas to beat off competition with plant-based meals becoming more popular.
Restaurant owner, An Hu, who owns a Vietnamese restaurant in Islington had to close earlier this year but has now reopened.
He said that “it was really sad when we closed but we just didn’t have an option, the costs just became too much.”
He said “the competition in this area is really high and when something become unpopular, you’re really going to struggle.”
An Hu was able to re-open his restaurant this year after changing his menu.
“We tweaked our menu a bit so that we catered more for vegans and vegetarians,” he said.
The SRA said “people still want to eat out” and remain adamant that despite record closures, there will not be a restaurant shortage in the near future.
