An average of 50 pubs shut for good each month over the first half of this year in England and Wales, figures showed on Monday.
A total of 305 closed their doors, leaving a total of 39,096 pubs across England and Wales, real estate intelligence firm Altus reported.
Though this was lower than the average 64 closures seen monthly over the first half of 2023, Altus warned the figures came as the industry braced for tax hikes next year.
Pubs face a “double whammy” of higher costs and reintroduced business rates from next April, Altus property tax president Alex Probyn pointed out, with the tax having been temporarily cut since the pandemic hit in 2020.
According to industry body UKHospitality, this could leave the industry with a £928 million bill as a 75% relief on business rates is lifted.
Probyn added the higher taxes would see pubs paying an average of £12,160 more each next year, threatening to lead to further closures.