Recession creates room for new restaurants

28/04/2009 15:51:18

The economic downturn may have provided restaurateurs with the ideal opportunity to open new eateries, it has been claimed.

Speaking to Recruiter Magazine, Collins King & Associates director Gary King said the hospitality market is close to bottoming out, meaning that ambitious investors may be able to set up in business at a low cost ahead of an anticipated upturn in trade.

He commented: "If we look at the early 90s and you look at what Sir Terrence Conran did, opening in the depths of the recession, you can pick up really good venues.

"It is a great time to open. It depends on the group. If you are a well structured group and you have sites that are not losing too much money, then now is the time to acquire.

Echoing these comments, Mise en Place director Jacqui Sterry said there is room in the market for new gastro pubs especially.

Property Week recently claimed South African restaurant Spur Steak & Grill will create local jobs when it opens a new outlet at the Westfield shopping centre in Derby.

Restaurant jobs nationwide

• Print this page
• Forward to a friend