Finnish restaurant owners express deep concern over increasing costs and declining demand in the industry, highlighting a challenging economic landscape.
Jyri Kettunen, the chairman of KaT, a restaurant company from Kuopio, paints a grim picture of the current state of the Finnish restaurant industry, citing significant cost increases, tax hikes, and a tightening consumer purse as key challenges. He notes that these factors have drastically affected the demand for restaurant services, leading to a surge in bankruptcy news within the sector.
Despite the bleak outlook, Kettunen does find a small silver lining in the recent holiday season, where there were some corporate events, which had previously not been a significant aspect of their business. This hints at a potential recovery, suggesting that corporate gatherings could signal a slight improvement in future demand for restaurant services. However, he remains cautious amid the overall turbulence in the industry.
The restaurant consortium to which Kettunen belongs operates 46 establishments, including karaoke bars, restaurants, and nightclubs. He observes that the nightclub market, particularly in Helsinki, is undergoing intense transformation, leading many clubs to close. As a response, they are considering broadening their nightclub concepts to cater to a larger customer base, indicating adaptability in challenging times but also highlighting the pressures facing nightlife businesses in Finland.
