Hospitality
Insolvency expert urges support in budget for embattled hospitality sector
Declan Taite, managing director at consulting firm Kroll Ireland, warned that there would be an increase in insolvencies due to inflationary pressures
Supply chain constraints, staff shortages, rising interest rates and insurance costs are among the key problems facing the hospitality sector, according to a senior executive at consulting firm Kroll.
“Cost of supplies have increased, energy costs have gone up, interest rates are now going up, so the cost of servicing any debt firms have against their businesses is increasing. And insurance costs continue to be a big issue for the sector,” Declan Taite told the ...