# Hospitality business closures due to rising costs

> Live situation record from CLSTR: https://clstr.news/situations/hospitality-business-closures-due-to-rising-costs
> Updated: 2026-08-08T12:10:34.000Z. Sources: 2. Developments: 2.

Hospitality businesses in London and Newcastle, Australia, are facing closures driven by rising operational pressures. 

In London, long-standing establishments such as Maria’s Market Cafe at Borough Market and a revived pie and mash shop in Islington have faced closure due to lease disputes and “issues out of our control.” This trend continued into August with the closure of the Soho-based Mediterranean restaurant 10 Greek Street, where staff cited rising rents and labor costs as primary drivers.

In Newcastle, Australia, the churrasco restaurant MEET announced it will close its King Street location due to the “unsustainable cost of delivering an all-you-can-eat experience” amid rising food and operating expenses. The site is expected to undergo renovations to host a new concept.

## Timeline

### 2026-08-08: Hospitality businesses face closures due to rising operating costs

Rising costs are forcing the closure of notable restaurants, including London’s 10 Greek Street and Newcastle’s MEET, as hospitality businesses struggle with food and operating expenses.

2 sources. https://clstr.news/cluster/hospitality-businesses-face-closures-due-to-rising-operating-costs

### 2026-07-15: London market eateries face closures amid lease disputes

Historic London market eateries—Maria's Market Cafe at Borough Market and the newly opened 74 Chapel Market pie shop—are closing amid lease disputes and unspecified issues, underscoring pressures on traditional

3 sources. https://clstr.news/cluster/london-market-eateries-face-closures-amid-lease-disputes

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Cite as: Hospitality business closures due to rising costs. CLSTR, https://clstr.news/situations/hospitality-business-closures-due-to-rising-costs