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BearlyBegun

Busy Restaurant & Bar, London Sw11

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Just thought I'd post this anecdotal as I think it probably indicates a withdrawal of funds extended from a bank to help a business cashflow... presumably?

Bar and restaurant complex on south side of putney bridge (The Rocket) - I've been to the restaurant a couple of times this last month and it seemed to be doing ok with enough diners, the bar next door seemed to always be heaving with people & doing great trade in overpriced cocktails etc.

Went there last night - all closed down 'due to current economic conditions'.

I can only assume this is due to a withdrawal of funding from their bank, as they certainly seemed to have enough turnover. Would this likely be the bank re-considering its risk of loans and pulling the plug on otherwise viable businesses?

Nearer where I live in SW6 there are 2 restaurants within 5 mins walk that have simply shut up shop since April. I dont see any green shoots!

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Interesting. I guess if they've got out before it collapses then it shows the owners had some acumen. Could well be bank funding though. Other one is that although they may have been busy it doesn't mean they were making money - one trend seems to be for people (including myself) to not order starters when they previously would have done, or to order cheaper/less booze. Those two factors can really hit margins and drive a business into loss. Could also be lease issues with landlord. I've noticed places near me are opening less often (closed lunchtimes or Sundays/Mondays).

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