Our city is feeling the pinch more than others
A hospitality expert has delivered his verdict on how Nottingham's restaurants and venues could change in the future on the back of the recent closures in the city due to 'skyrocketing' running costs. Guy Lincoln, a hospitality reasearcher at Nottingham Trent University, has explained why the the industry is now facing the "perfect storm" - and how a city like Nottingham could potentially see a complete highstreet reshuffle. Olimpia Zagnat reports.
"So if it had been without the pandemic - they might have had enough cash to survive this scenario. When you add that to the running costs that have gone through the roof - you have the perfect storm." On top of the present and future crippling prices, another challenge hits businesses - the cost of labour. The expert described the staff-shortage crisis as a "hangover caused by both Brexit and the pandemic".
Unfortunately, local businesses felt the crisis even more - as many of them had to use their cash during the pandemic. "The only restaurants that are going to survive this economic crisis are the ones that have investments, so the chain restaurants, because they have the cash", Mr Lincoln added. Another possible saving grace could be the growing hospitality market targeting students. Home to two large universities - Nottingham Trent University and the University of Nottingham - the city has a number of venues which welcome students.
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