More than a fifth of pubs in Ireland have continuing costs of up to €2,000 a week to sustain while generating no revenue during lockdown, according to new research from the Drinks Industry Group of Ireland .
The research, conducted among 1,085 publicans in Ireland last week, reveals that over one fifth (22%) have incurred continuing costs of between €1,000 and €2,000 per week for items such as salaries, salary top-ups, rent and maintenance, among others, during the lockdown.
60% of publicans reveal that government subsidies cover only 20% or less of their costs per month.
For those who have been allowed to reopen under government guidelines in recent months, one in four (40%) report a decline of over 50% in trade compared to the same period last year. A further 40% say that reduced demand and Covid restrictions have resulted in a reduction of over 60% in profits on the same period last year.
15% of pubs have reopened only part time due to the reduced level of business as a result of Covid restrictions.