This restaurant closure appeared out of the blue! The noble Belvoirpark in Zurich closes its doors at the end of the year. Located in a wonderful park, the restaurant was originally scheduled to be renovated in 2024. Now nothing will come of it. Spicy: The restaurant is run by Gastrosuisse, the all-people’s industry association.
“The decision was not easy for us,” says Fred Heinzelmann of Belvoirpark AG, a Gastrosuisse company. In the last few weeks, intense efforts have been made to find solutions to keep operations running. However, the restaurant can no longer be operated profitably until the end of 2024. “Two years of Corona have already left economic scars,” he says.
What about all the little bars in the country if even Gastrosuisse has to give up a historic restaurant in a prime location known for weddings and other festivities? “We don’t have up-to-date figures on company closures,” says Patrik Hasler-Olbrych, board member of Gastrosuisse.
Number of unreported cases likely to be high
However, Gastrosuisse is aware of the bankruptcy figures. “They only make up a small fraction of the shutdowns,” says Hasler-Olbrych. “Bankruptcies are higher this year than in 2020 and 2021.” But most pubs would close without filing for bankruptcy. Therefore, the number of unreported cases is likely to be high.
But the crisis is not over yet. Because: “The lack of energy and rising costs of goods, energy and personnel are again a burden on the hospitality industry,” he says. How the situation will develop in the coming months will be decisive. We cannot say at this time whether there will be more bankruptcies.”
What about the rapid increase in energy prices? Do other pickles break your neck? “We don’t have current figures yet,” Hasler-Olbrych says. He expects the situation to worsen in the fourth quarter of 2022 and the first quarter of 2023.
“3000 pubs and hotels threatened with bankruptcy”
Casimir Platzer, 60, President of Gastrosuisse, has issued more urgent warnings of rising electricity prices. “3,000 restaurants and hotels are under threat of bankruptcy,” he said in outlook. The alarm is ringing. The existence of “tens of thousands” of companies, including about 3,000 hotels and restaurants, is under threat in “Switzerland at the weekend”. For such companies, the federal government must find a solution that will ensure their survival.
The fact that the increase in electricity prices can affect companies negatively is not necessarily due to high consumption. In the hospitality industry, the cost of electricity is only a small fraction of the cost. However, since bars and hotels operate with lower margins, they are less tolerant of price shocks than other industries.