For Eamon McCusker, who owns Chubby Cherub and AM:PM restaurants in Belfast, the cost pressures are the toughest he has faced in 22 years.
He said increases in wages, food and beverage costs and utilities have had a huge impact on the industry’s profitability.
This, he added, has led many restaurants to decide to close, as despite being busy, they are not making enough money to survive.
“There is massive demand and places are doing well on traffic and numbers but they are not making any operational profit. Without profit, you can’t survive.”
“In 2023 we saw a trebling in our electricity bill in one of our venues for one quarter it went up from £7,000 to £21,000. Now it’s levelled out at £14,000 which is still double.”
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