Mr. Adrian Cummins:

The number of closures has slowed down compared to last year. In 2024, we saw 120 closures in January. This year, there were 53 closures in the same month. Therefore, the level of closures has slowed down. When we look at the level of openings, we see that we have more closing than opening. Predominantly, when there is a closure in a rural area, we are not seeing somebody taking that unit as quickly as would be the case in Dublin. Dublin will see openings at a faster pace than rural Ireland. It is down to footfall and tourist numbers. More tourists come into Dublin than into the rest of the country. It will be easier for a business to restart in a vacant unit in Dublin because of the footfall, the population, etc. When we look at a closure - Ms Harrison broke this down - we see that approximately €1.3 million is lost to the Exchequer when a restaurant closes down, based on the loss of the VAT, the unemployment costs, the loss of commercial rates and all the other taxes of top of that. It costs €1.3 million every time a business closes down. In 2024, nearly €550 million was lost to the Exchequer due to businesses in our sector closing in that year alone.