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The beauty industry increases debt. Experts predict: service prices will have to go up

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The beauty sector with increasing debt. The industry comments: “The crisis has run over us like a roller.” Hairdressing salons, beauty salons, tanning salons and the entire beauty industry feel the consequences of lockdowns. “Directly after the first of them, the debt of the sector increased rapidly by over 20%. It was the real cost of global restrictions and a seven-week downtime. In 2021, companies did not get into debt as much as they used to. However, liabilities continue to increase slightly. Further systemic solutions are needed. Lowering the VAT rate for cosmetic services to 8% would facilitate a return to the status quo from before the pandemic, ”said Michał Łenczyński, leader of Beauty Together, a community of 60,000 specialists and entrepreneurs.

According to the data of the BIG InfoMonitor Debtors Register and the BIK credit information database, at the end of September 2021, the debt the beauty industry was over PLN 100 million. During the year, this amount increased by less than 4%, and for 2 years – by nearly 30%. In turn, in the KRD, this debt recently jumped to about PLN 56 million. This is an increase of over 2% per annum and almost 50% from the third quarter of 2019. According to the conducted analysis, the number of debtors also increased. Recently, there have been about 3 thousand. to nearly 3.3 thousand Moreover, the average debt rose. At the end of September, it was worth almost PLN 19,000. to less than 31 thousand zloty.

Łukasz Goszczyński, attorney-at-law and restructuring advisor, states that the very increase in debt is quite worrying. In the opinion of the expert, the industry received a “strong shot”, after which it is difficult to recover. There are known cases complete liquidation of hairdressing or beauty salons, because many owners were very strongly affected by the restrictions related to the pandemic. It was especially visible in the first two quarters of this year. Back then, entrepreneurs frantically tried to sell their businesses on the Internet. They offered entire plants, possibly only premises or accessories and equipment.

The data from the BIG InfoMonitor Debtors Register and the BIK credit information database show that the number of debtors from the beauty industry is growing. At the end of September this year. there were 3,266 of them. However, 12 months earlier – 3,152, and in the third quarter of 2019 – 2,976. The KRD also shows such an increase year on year. Two years ago, the number of debtors amounted to 2,616. A year later it increased to 2,943, and recently to 2,946.

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Source From: Gazetakrakowska

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