The hospitality industry has been through a difficult couple of years. With repeated lockdowns during the coronavirus pandemic, many hospitality venues had to close for long periods of time and were forced to invest in all manner of safety features and precautions when they finally did reopen. According to the ONS, around 81% of hospitality venues were completely closed at the height of the pandemic. During that time, many accrued substantial debts as they tried to stay afloat.
Now that things are slowly getting back to normal, trade has picked up and many have started trying to repay those debts. Some, however, are struggling to meet their repayments or simply avoiding them altogether. When that happens, it’s time to hand the matter over to a professional debt collection agency.
Rebuilding the hospitality industry
Nobody wants to see hospitality businesses go under, but it’s a sad fact of life and all the more likely in the current economic climate. If you’re owed money by a restaurant, pub, bar, café or any other hospitality establishment, then they have a responsibility to pay, no matter the circumstances.
With the economy struggling to bounce back after COVID-19, the future looks uncertain for many businesses. Almost half of those in the accommodation sector, for instance, saw profits down by 20% in June 2021, when things had reopened and at the height of the holiday season. The same is true of many other sectors, which could lead to many more experiencing financial difficulties further down the line. If you’re owed money, delaying attempts to get it back could lead to even bigger problems as the debts mount up.
Get back what you’re owed
If there’s a debt you want to claim back, then you’re rightfully entitled to the money, and the sooner you take action, the better. The longer a debt is left uncollected, the harder it can be to recoup your money. With many businesses on the brink of collapse or already folded, there has never been a more pressing time to act and bring in the professionals.
Nightfox Investigations offers one of the top debt collection services in the UK, with many years of experience when it comes to businesses in the hospitality trade. Using round-the-clock surveillance, in-depth financial investigations and body cam technology, we can look into the financial state of a business, make face-to-face calls and see you get back the money you are owed.
Get in touch
When you’ve lost money to a business in the hospitality trade, it’s only fair that you get the compensation you are due. If you’re owed money and want to start proceedings to reclaim the funds, then the Nightfox Investigations team is on hand and ready to step in.
For more information on the services we provide or to instruct us in your case, simply get in touch with our experienced team today.