Horror UK fish and chips warning as ‘338 shops up for sale’ | UK | News
Fish and chip fanatics have been warned that Britain’s favorite takeaway is under increasing pressure, with hundreds of stores up for sale as rising costs squeeze owners across the country. Industry figures show there are currently 338 fish and chip shops on the market across the UK, raising concerns about the future of one of the country’s best-known high street foods.
According to a report prepared by Business TopicsOperators are struggling with a perfect storm of rising energy bills, rising staff costs and rising fish prices, leaving many owners reluctant to invest and expand. Danny Hennesy, a trading veteran and owner of fish and chip shop brokerage firm Mandens, said demand from potential buyers had never been stronger, but warned it was becoming increasingly difficult to run a successful business.
Mr Hennesy said: “There has never been more interest in the industry, but it is becoming increasingly difficult to run these businesses.”
The fish and chip industry is worth an estimated £1.2 billion annually and serves hundreds of millions of portions each year. However, many businesses have seen their margins come under intense pressure over the last 18 months.
One key concern is the increase in employer National Insurance Contributions from 13.8% to 15%, which was introduced in April and also applies from a lower earnings threshold.
For many fish and chip shops, staff costs are second only to food supply.
Meanwhile, energy costs remain stubbornly high, while cod and haddock prices have also risen amid global tensions affecting fishing fleets and fuel costs.
Mr. Hennesy warned that many property owners who would normally upgrade their equipment, renovate their buildings or open additional space are instead cutting spending.
He added: “Fish and chips is one of the most resilient food sectors in the UK. It’s part of our DNA. In tough times, people still come back to it because it’s familiar, affordable and reliable.”
“But costs are increasing across the board – energy, raw materials, personnel – and global events now directly impact the cost of running a store.”
He added: “We need to see growth, instead people are just trying to hang on. Without support more stores will close and that would be a real loss for the high street.”
Despite the challenges, there remains strong interest from potential buyers looking to replace corporate careers with business ownership.
Andrew Markou, CEO and co-founder of BusinessesForSale.com, said fish and chip shops continued to attract interest because they offered “stability and steady demand” even during uncertain economic times.
For now, Britain’s chippy’s remain a fixture in towns and cities across the country. But as costs continue to rise, industry leaders fear more could disappear unless trading conditions improve.
