A city centre restaurateur says some hospitality businesses are struggling to keep up with the rising cost of energy, fuel and raw ingredients for their menus.
Mike Ryan is the owner of Coqbull and Cornstore and is warning that some businesses will find it hard to stay open if margins continue to be eaten up by overheads.
Increased costs for farmers and suppliers are leading to more expensive items on restaurant menus, however many operators are reluctant to pass the full increase onto their customers which is in turn leading to less profit.
Speaking to RedFM News, Mike Ryan outlines how increased costs are impacting him and his family.
"I was out with my father yesterday, he got a delivery of fertiliser in yesterday which was three times the price he got it in last year. If he spent €10,000 last year, he's spending €30,000 this year, and there isn't a €20,000 margin in farming that can be brought out of cattle.
"I know his diesel has gone up, so I know from the root source that the prices have gone through the roof.
"At the restaurant, we've doubled our gas, doubled in the last month. We've gone from €2,000 to €4,000, and for a business to operate that's crazy."
