Scotland Coronavirus pandemic hospital shock Scotland

More than a quarter of Scots hospitality firms could collapse in wake of pandemic

Reading now: 822
dailyrecord.co.uk

coronavirus pandemic, a new report warns. The financial downturn in the wake of the pandemic is as serious as the economic crash in 2008.

The shocking statistic comes from Academics at the University of Edinburgh's Business School, who worked alongside credit risk company, Wiserfund.

Researchers studied financial statements from 5,000 tourism and hospitality firms.Those companies, all in, employed 209,000 in 2019.

It's been revealed that 28 per cent of the firms would suffer 'mild stress', the same as businesses did in 2008. Around 58,280 jobs would be slashed, according to their figures.

Read more on dailyrecord.co.uk
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA