Michael Kill CEO NTIA says:
“With NYE bookings performing well, but significantly behind 2019 sales, we are concerned that the main event of the year will be impacted by the hangover of industrial action with irregular rail services and transport links.”
“From Halloween until the end of the year is a critical trading period for our sector, where businesses have previously built there cash reserves to see them through the slower months of the following year.”
“For the third year in a row, we are faced with disruption. Industrial action and cost inflation pressures have decimated the festive trade across the Night Time Economy.”
“Businesses are already suffering from a 40% – 50% increase in operating costs, with consumer spend down substantially due to customers having less disposable income.”
“The industry will lose an estimated 2 billion in trade in December, many have lost upto 50% – 60% of trade on strike days.”
“A recent survey has shown that 1 in 7 businesses are either losing money or barely breaking even.”
“Delays in the Governments announcement on the energy relief extension has compounded the situation, leaving many facing further uncertainty and once again the inability to plan.”
“We will without doubt now see a huge swathe of businesses and jobs lost in January due to the Governments inaction, many saying that this is a worse crisis the sector has ever faced, worse even than the pandemic.”
