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Brexit Could Be Putting Brits Off Their Appetite

Brexit Could Be Putting Brits Off Their Appetite

A report by the UHY Hacker Young group has suggested that Brexit could be putting us off our appetites. A new study says one in three of the UK's top 100 restaurant groups are making a loss in the wake of uncertainty around leaving the EU.

Big names such as Prezzo, Jamie's Italian and Byron have all announced closures in recent weeks, and more are set to follow, according to the study.

Britain is oversaturated with "fast casual" dining chains on overcrowded high streets, UHY has said. Peter Kubick from UHY has said there is “little respite on the horizon” for restaurant chains in the UK - “Pressures on the restaurant sector have been building for years, and the last year has pushed a number of major groups to breaking point,” he said.

It's claimed Brexit is somewhat to blame for the losses being made by restaurant groups. A UHY spokesman said “With Brexit hanging over consumers like a dark cloud, restaurants can’t expect a bailout from a surge in discretionary spending.” It is thought that combined factors of the Government increasing costs through a higher minimum wage, and changes to trends in how we out because of Brexit, have caused the problems for restaurants groups to continue.

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