Chief Executive of Hospitality Ulster, Colin Neill
Reacting to Economy Minister Diane Dodds MLA announcement that the Covid Restrictions Business Support Scheme (CRBSS), Part A and Part B, and the Large Hospitality and Tourism Business Support Scheme (LHTBSS) will continue beyond 31 March, Chief Executive, Hospitality Ulster, Colin Neill said:
“The announcement of the extension of these two vital schemes today is a welcome relief to many within the hospitality sector who have come to rely on these support schemes to survive. However, it costs £1m a day to keep the hospitality industry closed and businesses are hanging on by their fingernails as they are running out of options to borrow more money to cover the shortfall.”
“Support such as the Covid Restrictions Business Support Scheme and the Large Hospitality and Tourism Business Support Schemes and massive borrowings by individual businesses are what are helping to keep businesses going while we await reopening, plugging some of the major gaps in overheads that still need to be paid.”
“Hospitality was the first and hardest hit over the past twelve months and without financial assistance the hospitality sector would be even more devastated. We would encourage the Minister to keep these pivotal support schemes available to businesses, even after reopening, as they try to pay down the debts and reach a level of sustainability.”
“Our continued call is for The Executive to provide clarity on the reopening criteria, give us indicative dates, and engage with us on the best and safest way for the industry to move forward and recover.”