Hospitality businesses face closures due to rising operating costs

Several established dining venues are closing due to rising operational pressures. In London, the Soho-based Mediterranean restaurant 10 Greek Street held its final service on August 8. Opened in 2012 by Cameron Emley and Luke Wilson, the establishment was noted for pioneering the ‘small plates’ and ‘European tapas’ styles in the area. Staff indicated that rising rents and labor costs were primary drivers for the closure. The team currently operates Braybrooke Beer Co. in Northampton.

In Newcastle, Australia, the churrasco restaurant MEET will close its King Street location on October 17. The ownership stated that the decision was driven by the unsustainable cost of delivering an all-you-can-eat experience amidst rising food and operating expenses. While the specific restaurant is closing, the site is expected to reopen under a new concept following renovations to align with the group’s other venues, Frenchie and Alfie’s.