As Many as 40% of Pubs and Restaurants Maybe Zombie Businesses, in Danger of Collapsing as Soon as Supports are Removed – Tóibín
As Many as 40% of Pubs and Restaurants Maybe Zombie Businesses, in Danger of Collapsing as Soon as Supports are Removed – Tóibín
Aontú Leader Peadar Tóibín TD stated that that;
“Many people will have been shocked by the casual admission by the Tánaiste on Radio this morning that the decision to allow Hotels open for indoor dining and drinks on the 2nd of June while leaving another month before Restaurants and can do the same is not based on science”.
“Pubs and restaurants have been hammered with more than 400 days of closure. The summer is a key time for their viability especially those operating in the western half of Ireland. A week in the summer is worth a month in the winter in terms of turnover and profit. Yet this government is taking half the summer season from them”.
“We are going to find that many pubs and restaurants are zombie businesses. Once the government supports are taken away many will collapse. With each passing week closed this number will increase. Its estimated that between 30% and 40% of pubs and restaurants could well be in this category. We in Aontú are calling for the government to put in place a debt management programme, a scheme to warehouse debt or provide write downs, similar to what has been done for home owners previously. We also need a system to get new credit lines into the industry as traditional providers will stay clear due to its perceived high risk”.
“A pint in a pub is no more dangerous than a pint in a hotel. At least today the Táiniste has admitted this. On what bases is the government then making the decision to keep pubs and restaurants closed until July. We in Aontú are calling for the government to detail who made this decision. We want the government to publish the minutes of the meetings of the decision-making group. We also want to the draft documents that were used in the decision making published. This particular decision is illogical and is clouded in secrecy”.
“50% of the population has been vaccinated. Hospital numbers are extremely low thankfully. We are calling on the government to reopen all hospitality together under the same regulations