Hospitality bosses have encouraged consumers to continue supporting venues this month in spite of the usual upsurge in people staying in more and drinking less in January. Amid the ‘chasm of debt’ the industry is now facing up to after the somewhat muted festive frivolities, hospitality bosses have pleaded with customers not to abandon them in the coming weeks.
And so, with this in mind, we thought we would explore the situation in further detail and explain how, if you own your own hospitality venue, Cobra could help you recover some much needed money in this time of grave uncertainty.
Consumers Encouraged Not to Abandon Pubs and Restaurants Over Dry January
Pub, bar, restaurant and nightclub bosses have urged consumers to continue supporting venues even if they are stopping drinking alcohol or even dieting for the first month of the year. This desperate cry for support came after many hospitality workers confessed that a multitude of venues are grappling with a ‘chasm of debt’ caused by Covid restrictions and a less than helpful stagnant Christmas.
In fact, some hospitality bosses went as far as to say that the coming weeks could be the ‘nail in the coffin’ for thousands of venues unless customers keep visiting, after the Christmas period saw some venues even lose money.
January to Compound Negative Impact on the Hospitality Sector
Historically, December is one of the busiest months for hospitality, but sales declined by over 60% for some venues. Indeed, a London-based brewery owner recently spoke out and encouraged people to continue supporting their local venues, saying: “ It does sort of feel like it doubles down on the hospitality industry’s worst month by also having a huge wave of people who don’t drink.”
He continued by adding: “For those who are doing Dry January, and I can completely see why a lot of people do, I would urge them to meet up with their friends and go out to their local pub, restaurant, music venue, wherever else because those venues desperately need your support, whether you’re drinking an alcoholic beverage or not.”
How Can Cobra Help You Through The Dry Months?
When times were good you may have been guilty of letting the odd unpaid invoice or bill slip by or go unnoticed. With everything going on in the world, now is the time to stop and recover them immediately.
Enforcing unpaid invoices or outstanding accounts requires a myriad of strategies, one being face-to-face debt recovery. We have worked for a number of local, national and global hospitality venues, so we know the most impactful methods of debt recovery when looking to collect from a debtor.
As the hospitality industry faces up to its seismic debt problem, more and more debtors may be looking to either abscond on their debts, or worse, they may think that you’re too busy keeping your business afloat to go chasing them for an unpaid invoice or outstanding bill.
Trust the Hospitality Debt Recovery Experts
At Cobra Financial Solutions, we have a long list of venues who we’ve helped to stay afloat during the pandemic due to the debts we’ve recovered on their behalf. So, when you instruct Cobra, you can rest assured that your money and reputation are in safe hands.
If you own a hospitality venue and think you have a case Cobra can help with, then get in touch with an expert member of the Cobra Financial Solutions team on 0151 526 4222 to discuss your case in more detail.
There’s no time like the present. You can also email admin@cobrafinancial.co.uk.
