Stark Mayo warning over feared business closures

High costs “a disturbing impact on local economies”

Towns and villages across Mayo are in danger of witnessing a wave of business closures, a local TD has warned.

Deputy Rose Conway-Walsh is fearful a crisis is looming for small commercial enterprises across the county.

The Erris-based representative revealed she is aware of businesses ‘hibernating for the winter’ with the intention of reopening in March or April.

They are doing so because they just cannot sustain the high costs, particularly in respect of energy.

The Sinn Féin TD elaborated: “They know that they will not generate enough revenue through the winter months to meet those costs.

“They fully realise that if they remain open, they will face into spring of next year with an accumulation of unsustainable debt. Other businesses are making the decision to close permanently.

“These decisions were taken not only because sky-rocketing energy costs – but also due to spiralling insurance premiums and commercial rents.

“As most businesses in small towns are interconnected, this is having a disturbing impact on local economies.”

Deputy Conway-Walsh said the impact in terms of unemployment and underemployment in rural community areas is deeply concerning.

She explained that many business are afraid to take on debt any longer because they are “being hit from all sides by rising bills.”

“Their costs are going up at a time where there’s a reduction in the customer spend. When workers and families are hard pressed, local businesses struggle too.

She renewed her appeal to the government to address the artificially high electricity prices that have been crippling premises and householders in recent months.