NTIA reveal devastating impact without further support

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The NITA’s latest survey on the financial impact across the hospitality and the late night sector, undertaken earlier this week, reveals the perilous position premises are finding themselves in. 43% say that they cannot survive more than a month without cash support and almost 9 in 10 cannot survive longer than 3 months.

In terms of jobs and the number at immediate risk, 1 in 5 said that 90% of jobs were at immediate risk and half of premises said that more than 50% were at immediate risk.

The survey also shows the scale of the impact and highlights that, already, losses are much higher than the support available.  When it comes to debt, venues were carrying COVID debt between £100,000 and £170,000 with the value of lost bookings running at between £48,000 and £75,000.

The NTIA commented, “Whilst it is appreciated that Scottish Government is constrained in their ability to provide funding, and we are grateful for the rapid response of Cabinet Secretary Forbes in meeting with our sector last week, it remains the case that support provided by government both in Holyrood and Westminster remains woefully short of addressing the economic harm and sectoral need already experienced.

“We urge UK Government to immediately reimplement furlough and provide adequate support to the devolved nations so that businesses across the UK can survive what is now looking like the toughest point of the pandemic to date”.

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