• 139 days Could Crypto Overtake Traditional Investment?
  • 143 days Americans Still Quitting Jobs At Record Pace
  • 145 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 149 days Is The Dollar Too Strong?
  • 149 days Big Tech Disappoints Investors on Earnings Calls
  • 150 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 151 days China Is Quietly Trying To Distance Itself From Russia
  • 152 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 156 days Crypto Investors Won Big In 2021
  • 156 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 157 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 159 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 159 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 163 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 164 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 164 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 166 days Are NFTs About To Take Over Gaming?
  • 166 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 169 days What’s Causing Inflation In The United States?
  • 171 days Intel Joins Russian Exodus as Chip Shortage Digs In
World’s Richest Have Taken A $400B Wealth Cut Amid Ukraine Crisis

World’s Richest Have Taken A $400B Wealth Cut Amid Ukraine Crisis

According to the Bloomberg Billionaires…

Fintech Valuations Have Grown Red-Hot

Fintech Valuations Have Grown Red-Hot

Nu’s successful listing probably served…

  1. Home
  2. News
  3. Breaking News

50 Million Pints Of Beer Could Be Wasted If UK Pubs Don't Reopen

Beer Pubs

Britain remained in a nationwide lockdown in mid-April as virus-related deaths and confirmed cases climb. A crashed economy and high unemployment risk sending the country into depression. Non-essential businesses, like pubs, have been shuttered for nearly a month.

BBC News is reporting, with no clear timeline of when lockdowns will dissipate, tens of thousands of pubs across the country have been severely damaged with limited cash flow in the last thirty days. They are holding large sums of beer inventory that could expire if lockdowns continue for the next several months, which would result in over 50 million pints of stale beer being dumped, according to a leading industry body.

The Campaign for Real Ale (Camra) estimates the nation's 39,000 pubs each have around 15 barrels of inventory.

Camra's chief executive Tom Stainer fears many pubs will have to dump stale beer if the lockdown extends into summer.

"It's a very sad waste of all the work and talent that goes into producing great beer," Stainer told the BBC. "People won't get to drink it and all those resources have been used up for nothing."

He added: "It's not the biggest issue that the country is dealing with, but aspects of life like going to the cinema or cafe, or going for a pint, are something we treasure."

Since pubs were forced to close their doors on March 20, supermarket have seen a 20% increase in alcohol sales. Consumers have shifted where they buy their beverages in the lockdowns as public health orders force everyone to drink at home. This trend will likely continue for the next several months, further pressuring pubs.

Iain Crockett, director of Gloucestershire-based Severn Brewing, said the lockdown has severely impacted pubs and down the supply chain to brewers.

Crockett said smaller brewers could see financial hardships while larger ones with storage capacity and capital can weather the economic storm.

Some pubs are already asking the government where they can dump stale beer. In the coming months, tens of millions of pints could be destroyed if lockdowns continue. Related: Trump Tweet Sends Oil Soaring 25%

BBC notes that some brewers have started converting stale beer into hand sanitizer, by extracting the alcohol.

According to OpenTable data, restaurant traffic in the UK remains collapsed through mid-April, with little hope customers will return this month.

In the US, some state and county governments have allowed bars and restaurants to remain open, only allowing delivery or curbside pick-up of food and alcohol.

Nevertheless, the pandemic has been a significant headache for the service industry, resulting in millions of jobs lost in the Western world.

By Zerohedge.com 

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment