The hospitality sector is feeling the heat. The owners of favourite eateries to high-end establishments say demand is falling as cash strapped diners eat out less. It's also getting tougher for restaurants and cafes to pass on the surging cost of ingredients to customers, leaving some businesses in a difficult position.
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CreditorWatch says food and beverage businesses have a higher risk of default compared to other industries, especially with hundreds of thousands of households still to roll off fixed rate loans onto much higher variable rate mortgages.
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