Kristy Phillips: Hospitality NZ CEO on the number of businesses closing their doors over the last year

The hospitality squeeze continues, with a flurry of closures. Credit reporting agency Centrix says liquidations are up 49 percent year-on-year. Cafes, restaurants and takeaways made up the most of the 414 liquidations recorded in the past 12 months. Hospitality NZ CEO Kristy Phillips says the latest impacts are the cost of living and the fuel crisis. But she says businesses have taken many hits in recent times. "Liquidations now can be the result of years of hanging on and just trying to wait for those trading conditions to improve."  LISTEN ABOVESee omnystudio.com/listener for privacy information.