Pub closures increased by a third in the first quarter of 2024 as spending remained subdued and the effects of higher costs kicked in.
In the first three months of the year, 239 pubs were either demolished or repurposed, new figures from the government revealed.
On average, it means 80 pubs shut for good every month, marking a 56% increase compared to the 51 a month shuttered in 2023.
Bosses in the pub industry say the closures are ramping up due to high energy and food costs mixed with lower consumer spending and higher taxes.
In total, there are now around 39,100 pubs in England and Wales, including those vacant or on the market, data from real estate expert Altus Group (TSX:AIF) revealed.
It represents a downturn from the 39,401 sites recorded at the end of last year.
Pub bosses and industry bodies are now lobbying all the leading political parties in a bid to reduce business rates and cut beer duty to nearer European averages.
Labour, the Conservatives and the Liberal Democrats have all promised to rejig how business rates in the industry work but have yet to provide exact plans.
Altus Group (TSX:AIF) president Alex Probyn said: “The fundamental issue for business is not necessarily the system but how much tax it actually generates.
“It is a tax that has risen 49% during the last 14 years with business, across all sectors, now paying £9.48 billion a year more than in 2010.
“Whilst the pledges are welcome to drive down bills permanently for the high street, business had hoped for more detail and a timeframe in achieving this.”