Latest news with #RareRestaurants
The Independent
4 days ago
- Business
- The Independent
Gaucho restaurants CEO issues stark warning to Reeves over tax hikes
A senior figure in the hospitality sector has sent a stark warning to Rachel Reeves ahead of the autumn Budget: 'Your taxes are curtailing growth'. Baton Berisha, chief executive of Rare Restaurants - the company which owns Gaucho and M restaurant brands - has called for National Insurance Contributions (NICs) to be restored to the level they were before April's increase and said he had the backing of others in the industry wanting the same. Pointing to Office for National Statistics (ONS) figures, Mr Berisha highlighted 84,000 jobs have been lost in the hospitality sector since the NICs hike took effect in April 2025 - equating to roughly 13,000 jobs disappearing per month since then. As a result, Mr Berisha has opted to speak out now 'to highlight the critical issues that the hospitality industry in the UK is facing.' They are, he says, largely 'due to Rachel Reeves' punitive taxes which are curtailing - rather than encouraging or supporting - growth.' 'I and other leaders in our sector want VAT reduced to 15 per cent and for the government to restore NICs to where it was before the budget, so we can continue growth,' Mr Berisha told The Independent. 'Over the 12 months to May 2025, the accommodation and food services sector shed 124,376 employees, a 5.6 per cent year-on-year decline . 'Between January and March of this year, operating hospitality venues saw the equivalent of around 20 restaurant closures per week, around 240 closures in that quarter. Additionally, over the past three months in the UK, there were hundreds of restaurant closures from independents and smaller chains, plus major chains downsizing.' While personnel costs are a big factor hitting all industries, the hospitality sector has also come under pressure from other angles. In April, the cost of business rates rose significantly when Retail, Hospitality and Leisure (RHL) firms stopped benefiting from a 75 per cent relief scheme, which was slashed to 40 per cent. In real terms, that meant in some cases an increased cost of up to 140 per cent. That means fewer jobs and, in some cases, fewer companies that can hire anyone at all. 'Combined with a 6.7 per cent rise in the National Living Wage, changes to business rates relief and other employment cost pressures, critical margins have come under extreme strain,' said Mr Berisha. 'Employers across hospitality have limited ability to pass on costs to customers, leading instead to reduced staff, frozen hiring, and in loads of cases, closures.' With the chancellor set to announce a new raft of taxes in the autumn Budget, the British Chambers of Commerce (BCC) has warned businesses cannot shoulder any more of the burden. 'Without thriving firms the economy will continue to struggle,' said BCC research manager Stuart Morrison. 'Long-term strategic plans from government on industry, infrastructure and trade have been widely welcomed by businesses. But with the focus now on delivery, persistent cost pressures mean firms are left with one hand tied behind their back. 'There must be no more business taxes in the Autumn budget.' Mr Berisha, who arrived in the UK from Kosovo as a 15-year-old fleeing the war, started in the hospitality industry cleaning floors at Quo Vadis in the late 1990s. Since then, he has managed restaurants for Gordon Ramsay at the Savoy, Heston Blumenthal at The Fat Duck Group and others. Later in his career, a slew of CEO positions have seen him overseeing businesses with more than 10,000 employees and an annual turnover of £500m, leading iconic brands and steering the growth of The Ivy Collection, before taking over as CEO of The Wolseley Hospitality Group prior to his current role at Rare.
Scottish Sun
19-05-2025
- Business
- Scottish Sun
Iconic award-winning restaurant famed for 6-foot tall robot waiter & hidden members' ‘den' to shut for good in days
The owners are also closing a beloved pub WAIT A MINUTE Iconic award-winning restaurant famed for 6-foot tall robot waiter & hidden members' 'den' to shut for good in days AN ICONIC steak restaurant where diners were served by a six-foot Champagne robot will close its doors in just a few days time. The eatery has offered fine dining, with signature features including a concealed members' den, for more than a decade. 4 M Restaurant used to be attended by London's elite Credit: Alamy 4 M featured in the prestigious Square Mile of London's inner city Credit: google maps 4 Marion the champagne robot will be powering down this week Credit: Facebook M Restaurant, the decadent dinner spot located in London's central Square Mile, will shut for good in only a few days time. The exact closure date is currently unknown, but City A.M. reports it will shut at some point this week. M Restaurant boasted a series of signature features, including an extravagant yacht which could be chartered for meals on the Thames. There were other eye-catching headliners such as a six-foot robotic waiter serving Champagne waiter, a hidden member's 'den', dog-friendly brunches, and even vending machines just for wine. The decision to close the restaurant comes less than a year since M's founder, Martin Williams, left its parent company Rare Restaurants in October. He was succeeded by the enterprise's new chief executive, Baton Berisha, who took over in March. There is speculation that a review of M's rent on Threadneedle Street in central London has contributed to its closure. Moreover, it is understood that Mr Berisha is focused on Rare's Gaucho restaurant brand, which makes up the company's core. Consequently, the company is also set to close the Crane Tap pub in Twickenham next week. This will leave Rare Restaurants with only Gaucho restaurants in its portfolio. Thankfully, no redundancies are expected at either M or the Crane Tap. Instead, staff will be offered work at Gaucho restaurants near to the closing establishments. Beloved pizza chain to close down for good in just weeks after 54 years There are currently no scheduled closures of Gaucho restaurants. Rare Restaurants has declined to comment either publicly, or when approached by the Sun. In its heyday, M Restaurant was a City of London staple for high-flying diners. The iconic eatery opened its doors back in 2014, and quickly became a second home for bustling business people. The establishment imported steaks and grapes from across the globe with a first class kitchen and wine cellar. Its roaring success led to a second branch opening in Victoria in 2015, and even a third restaurant being added in Canary Wharf just three years ago. But, like so many other businesses, M has struggled to recover from hard times during and after the pandemic. These led to the Canary Wharf and Victoria branches closing in 2023 - which will be joined by the Square Mile eatery this week. Mr Williams, M's founder and former owner, is now chief executive at Evolv, which operates restaurants including the Michelin starred Angler. He has said he would not bring M Restaurant into his Evolv portfolio. Speaking to City A.M. last year, he said: "M Restaurant was a moment in time and it was really special. It's 10 years old and, at its peak, we had everyone in the City there. "You could smell the room – it was a powerhouse. Everybody there knew somebody else. 'I don't think I'd put my name on a restaurant today [M stands for Martin]. "In 2014 it felt like the right thing to do, and it was very memorable. But it makes the restaurant so attached to you personally and reliant on you being there. "I loved what I did, we built that company from nothing and sold it for £8 million."
The Sun
19-05-2025
- Business
- The Sun
Iconic award-winning restaurant famed for 6-foot tall robot waiter & hidden members' ‘den' to shut for good in days
AN ICONIC steak restaurant where diners were served by a six-foot Champagne robot will close its doors in just a few days time. The eatery has offered fine dining, with signature features including a concealed members' den, for more than a decade. 4 4 4 M Restaurant, the decadent dinner spot located in London's central Square Mile, will shut for good in only a few days time. The exact closure date is currently unknown, but City A.M. reports it will shut at some point this week. M Restaurant boasted a series of signature features, including an extravagant yacht which could be chartered for meals on the Thames. There were other eye-catching headliners such as a six-foot robotic waiter serving Champagne waiter, a hidden member's 'den', dog-friendly brunches, and even vending machines just for wine. The decision to close the restaurant comes less than a year since M's founder, Martin Williams, left its parent company Rare Restaurants in October. He was succeeded by the enterprise's new chief executive, Baton Berisha, who took over in March. There is speculation that a review of M's rent on Threadneedle Street in central London has contributed to its closure. Moreover, it is understood that Mr Berisha is focused on Rare's Gaucho restaurant brand, which makes up the company's core. Consequently, the company is also set to close the Crane Tap pub in Twickenham next week. This will leave Rare Restaurants with only Gaucho restaurants in its portfolio. Thankfully, no redundancies are expected at either M or the Crane Tap. Instead, staff will be offered work at Gaucho restaurants near to the closing establishments. Beloved pizza chain to close down for good in just weeks after 54 years There are currently no scheduled closures of Gaucho restaurants. Rare Restaurants has declined to comment either publicly, or when approached by the Sun. In its heyday, M Restaurant was a City of London staple for high-flying diners. The iconic eatery opened its doors back in 2014, and quickly became a second home for bustling business people. The establishment imported steaks and grapes from across the globe with a first class kitchen and wine cellar. Its roaring success led to a second branch opening in Victoria in 2015, and even a third restaurant being added in Canary Wharf just three years ago. But, like so many other businesses, M has struggled to recover from hard times during and after the pandemic. These led to the Canary Wharf and Victoria branches closing in 2023 - which will be joined by the Square Mile eatery this week. Mr Williams, M's founder and former owner, is now chief executive at Evolv, which operates restaurants including the Michelin starred Angler. He has said he would not bring M Restaurant into his Evolv portfolio. Speaking to City A.M. last year, he said: "M Restaurant was a moment in time and it was really special. It's 10 years old and, at its peak, we had everyone in the City there. "You could smell the room – it was a powerhouse. Everybody there knew somebody else. 'I don't think I'd put my name on a restaurant today [M stands for Martin]. "In 2014 it felt like the right thing to do, and it was very memorable. But it makes the restaurant so attached to you personally and reliant on you being there. "I loved what I did, we built that company from nothing and sold it for £8 million." 4
