Leisure Sector Update: Why early debt recovery matters in today’s leisure and hospitality climate

Welcome to the Harrison Drury Leisure Sector Newsletter. Your regular update on legal developments across the leisure, hospitality and tourism sector. Our aim is to keep you informed, prepared and ahead of the curve with insights tailored to support you and your business.

The Government has announced a planned crackdown on late payments being made to small businesses.
Click here to view the Government announcement.

Whilst many leisure businesses such as bars and cafes will receive immediate payment for their services, others such as breweries and hotels with conference or wedding facilities will have customers who pay later. Whilst we will have to wait to see exactly what new measures come into force and how helpful they are, in the current economic climate businesses need to be carefully managing these lines of credit as they can contribute to cash-flow issues even for well-run businesses.

In this blog, Insolvency and Restructuring Partner, Heather Morris, looks at practical steps businesses should be taking to prevent cash flow problems escalating.

We have a team of solicitors across a range of legal disciplines all with significant experience in supporting businesses in the leisure sector. Meet our leisure sector team to see how our team can help support you. If you wish to subscribe to our leisure newsletter, please do so here.