Three out of four night time businesses on “financial cliff edge” due to inflation
nme.comfive organisations representing the UK hospitality sector penned an open letter to the UK government, highlighting “rocketing energy prices” that are forecast to become “a matter of existential emergency” later this year – and demanding that the government act soon to prevent a catastrophe to UK culture.Music Venue Trust (MVT) CEO Mark Davyd spoke to NME at the time about the true threat posed by the looming price rise.
He compared it to the COVID pandemic, which at one point saw 93 per cent of the UK’s grassroots music venues under threat of being closed forever due to losses caused by restrictions.Mark Davyd explained: “It feels weird to say it, but unlike during COVID when you could go, ‘OK, we need to raise some money now because in a year’s time the venues will be open’, we can’t do that now because they’ll have to pay another electricity bill next year and the year after that, obviously.
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