A Portland restaurant owner says he has had to make the "gut-wrenching" decision to close his popular business after his utility bills "quadrupled".

Steve Philpot, who runs The Boat That Rocks, told The Echo it is "unsustainable" to keep the bar, restaurant and entertainment venue going in what has been described as a "terrible loss" to the isle.

As reported, the restaurant is to close its doors for the final time this weekend. 

Mr Philpot says bills have sky-rocketed from about £60,000 a year to £174,000 per annum, which he said he just "cannot afford" as the cost-of-living crisis takes hold.

Bournemouth Echo:

The cost of sourcing food and other supplies has risen by 40 per cent, with Mr Philpot adding that similar businesses will face the same fate if more Government support is not forthcoming.

Regulars at the restaurant say they are "gutted" about the news, which it announced via social media on Thursday.

Meanwhile Paul Appleby, president of the Weymouth and Portland Chamber of Commerce, said The Boat That Rocks' imminent closure leaves the isle with limited hospitality options.

Staff at the venue have been laid off and it remains unclear as to what will take over the vacant building, which overlooks the marina.

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"We are paying £10,000 a month for electric and £6,000 for gas, and the business just can't sustain that sort of money, it is ridiculous," Mr Philpot said.

"My bills have gone from about £60,000 to £174,000 and I just can't afford it. We are a highly seasonal business and always struggle through the winter but it is just completely unaffordable.

"It is gut-wrenching. We have been here for seven years and tried to build a business up."

Mr Philpot added that it is "desperate" times for small business owners in the sector and was worried that further closures would be incoming.

He also accused the Government of not providing enough support for firms at a time when many are feeling the pinch.

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"We won't be the only business - everybody is going to be in the same boat. I think there will be massive closures after Christmas," Mr Philpot warned.

"You can't put prices up to cover costs because you won't get the customers - they have not got a lot of their own money.

"There is nothing we can do apart from sitting here in candlelight."

Chamber president Mr Appleby shared concerns about the future of the hospitality sector on Portland.

"It's a terrible loss. It was an anchor businesss which ticked so many boxes," he said.

"The island has lost such a strong business magnet that would drive people in from far and wide. It was a destination."

Mr Appleby added that he hoped the building would get re-used given its prime spot next to the water. The building will be handed back to the landowner, Portland Marina. Staff there did not wish to comment. 

One regular, Storm Wallace, reacted to the news with sadness, saying she was "gutted" about its closure.

"All the staff are loved and it is such a personal loss. I am gutted," she said.