Japanese-style pubs, known as izakaya, are going bankrupt at a faster rate than during the COVID-19 pandemic, as consumers cut back on socializing expenses amid rising prices, according to a recent survey by a credit research firm.From January to November this year, 203 izakaya operators went out of business, exceeding the 189 recorded for the whole of 2020, when the pandemic began to spread in Japan, Teikoku Databank Ltd. said.Ongoing inflation is dealing a heavy blow to the industry, which had already been struggling with changes in consumer behavior following the pandemic, during which m…READ FULL ARTICLE
