A further restaurant closure in Tipperary town has been confirmed effective from today.
Prime 74 has been in operation since 2016 and is located in the heart of Tipperary town.
The owner Martin Lovell says it was impossible to continue operations due to never ending challenges in the sector from rising costs to staff shortages.
Mr Lovell says he tried to bring something different to Tipperary town that offered a unique dining experience while championing locally sourced foods and ingredients. The news of the closure comes after Flanagan’s Lane Restaurant Coffee Shop and Deli, also on Main Street Tipperary town, announced it will close on January 26th.
Senator Garret Ahearn says the Government is delivering on reform of low pay, sick leave and pension entitlements but that is also adding to employer costs.
The Fine Gael Seanad spokesperson on Enterprise, Trade and Employment is supportive of a different VAT rate for hospitality businesses in the food sector compared to the accommodation sector.
Mr Ahearn accepts that the Government has previously rejected this proposal.
The Restaurants Association of Ireland is asking for 5 actions to support the sector – namely a lower VAT rate, a special support package due to the labour intensive nature and low margins in the sector, an extended period for businesses to pay tax bills warehoused during the pandemic, that the pension auto enrolment be paused until late 2025 instead of starting this year and that the Government recognise that some areas are having their visitor footfall reduced as accommodation is used to house refugees and asylum seekers.
Mr Ahearn is reminding businesses that smaller operators will get 50% of their 2023 rates bill automatically rebated as part of a cost of doing business support package in the last Budget.