According to a report by Market Recovery Monitor from CGA and AlixPartners released on Friday, almost 12,000 bars, pubs and restaurants in the UK have been forced to close since December 2019.
While 4,170 new venues were registered since the start of last year, the loss of 11,894 venues means there have been three closures per one opening, resulting in a net loss of 7,724 licensed venues.
The casual dining business has shrunk by 15.8 percent, meaning more than 1,000 casual dining restaurants, or one in six eateries, have shut down.
The report also revealed the food sector had been hit harder than the beverage market, losing 7.6 percent and 5.5 percent of their total venues.
The report also warns that the number of permanent closures is likely to soar as the effects of trading restrictions despite the government planning to reopen outdoor venues from mid-April.