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Manolete Partners

Hospitality and tourism in Scotland face potential 58,000 job losses

More than a quarter of Scottish hospitality and tourism businesses could go bust with 58,000 jobs being lost as a result of coronavirus, academics have suggested.

Researchers analysed two decades of financial statements from companies in the sectors, looking at profit and levels of debt.

They estimate a “mild stress scenario”, which would be slightly worse than the impact of the 2008 financial crash, would lead to 28 per cent of firms going into insolvency.

Manolete Partners (LON:MANO) work alongside IPs from all of the “Big Four” through to one and two partner specialist insolvency and restructuring practices in the regions. Manolete finances the work of the Insolvency Practitioner and their lawyers to make optimal recoveries for the creditor estates and takes on all the risk.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.