TravelMole
Agent

Insolvencies up in hospitality and leisure

Monday, 8 October 20123 min read

The hospitality, leisure, travel and tourism sector was one of the hardest hit by corporate insolvencies this year.

According to the latest findings from PwC, insolvencies have risen within the sector from 1,304 to 1,464 in the past 12 months.

This is against a background where the number of corporate insolvencies across all sectors has dropped.

Only the construction, manufacturing and retail sectors performed worse than the hospitality and leisure sector.

But, although the hospitality and leisure sector has performed worse than last year, the level of insolvencies has steadily fallen since the first quarter of this year.