Another Staffordshire restaurant has ceased trading, adding to the increasing number of closures in recent weeks.
Bar and restaurant The Winery, in Burton upon Trent, closed permanently on Sunday, 2 February.
The riverside restaurant, based at the 11th century Burton Abbey, was previously known as The Abbey Inn and had been running for 15 years.
The announcement of its closure comes after historic venue The Potters’ Club, in Stoke-on-Trent, shut last week.
Chef Cris Cohen’s Feasted business and Chef’s Table dining experience, also in Stoke-on-Trent, shut last month and multi-million-pound Beauty and the Bistro, in Basford, has also gone into liquidation.
Gareth Prince of Begbies Traynor has been appointed by the owners of the The Winery to assist with the formalities of putting the company into liquidation.
He said: “I can confirm that we have been appointed to assist the Directors of The Winery Ltd in placing the company into liquidation.
“Many bars and restaurants are facing pressure at the moment, and this iconic local restaurant will be missed by the community as well as the many customers that passed through its doors to be served by its talented team.
“We are working closely with the owners, the affected employees and creditors to support on the process of winding the company down.”
Customers of The Winery who have paid deposits, hold vouchers or have other enquiries should email [email protected]
Earlier this month, Begbies Traynor reported a historic jump in the number of firms in critical financial distress. The research showed the number of UK businesses in ‘critical’ financial distress rose by 50.2 per cent quarter-on-quarter to 46,853 in the last quarter of 2024. Bars and restaurants featured in the top 10 list of sectors experiencing critical financial distress and significant financial distress.
Ric Traynor, Executive Chairman of Begbies Traynor, said: “For many businesses which were already dealing with weak consumer confidence and higher borrowing costs, the increase in national insurance contributions and the national minimum wage, announced at the last Budget, could be the last straw, particularly in labour-intensive sectors like retail and hospitality, who typically operate on razor thin margins.
“For many of these companies, the situation is dire, and this additional burden will almost certainly result in business leaders taking the decision to, at best, reduce headcount or, worse, wind down their operations in the face of insurmountable challenges.”