A POPULAR bar chain has closed three more sites in its latest shake up.
The New World Trading Company, which runs the Botanist bars, has closed sites in Coventry, Sheffield and Chester this month.
The latest round of closures follows the shuttering of three sites in October 2024.
The company has been undergoing a restructure after encountering difficulties and confirmed the bars were not profitable.
Those closed this month included two Botanist sites and a North Light bar in Chester.
The three closed last year were the Florist in Liverpool, the Botanist in Knutsford and the Botanist in Alderley Edge.
The bar operator also operates brands including the Oast House, and the Trading House.
In October 2024 New World Trading Centre agreed a Company Voluntary Arrangement (CVA), when it said it would refocus on its Botanist brand.
A CVA is a restructuring measure that lets businesses continue to trade whilst also closing stores and pushing through rent cuts.
The chain had experienced financial difficulties following the impact of the Covid-19 pandemic, rising inflation and the cost-of-living crisis.
As well as closing sites the group has rebranded others and said it would open a new Botanist site in Bournemouth in May 2025.
It currently operates 24 sites under the Botanist brand.
[bc_video account_id=”5067014667001″ application_id=”” aspect_ratio=”16:9″ autoplay=”” caption=”Britain’s retail apocalypse: why your favourite stores KEEP closing down” embed=”in-page” experience_id=”” height=”100%” language_detection=”” max_height=”360px” max_width=”640px” min_width=”0px” mute=”” padding_top=”56%” picture_in_picture=”” player_id=”default” playlist_id=”” playsinline=”” sizing=”responsive” video_id=”6339711979112″ video_ids=”” width=”640px”]In its last published accounts the New World Trading Company reported a pre-tax loss of £4.9million for the year to 31 March 2023.
The New World Trading Company is not the only bar group to have announced closures this year.
BrewDog announced started 2025 by axing six bars.
The shutters are coming down at three venues in Europe, one in China and another two in England.
Stonegate had also confirmed it will close The Bedford in Southampton city centre this month.
[authenticated-scripts src=”%3Cscript%20class%3D%22palin-poll%22%20src%3D%22https%3A%2F%2Fwww.thesun.co.uk%2Fpollingwidgets%2Fv3%2Fwidget.js%3Fquestion_id%3D102815%26game%3Dpolling%22%3E%3C%2Fscript%3E” type=”embedded” width=”100″ /]WHAT IS HAPPENING TO HOSPITALITY?
Many food and drink chains have been struggling recently as the cost of living has led to fewer people spending on eating out.
Businesses had been struggling to bounce back after the pandemic, only to be hit with soaring energy bills and inflation.
Multiple chains have been affected, resulting in big-name brands like Wetherspoons and Frankie & Benny’s closing branches.
Some chains have not survived, Byron Burger fell into administration last year, with owners saying it would result in the loss of over 200 jobs.
Pizza giant, Papa Johns announced it would be shutting down 43 of its stores this year.
Tasty, the owner of Wildwood, also shut sites as part of major restructuring plans.
This year has seen the announcing of further closures including from casual dining group Chipotle and an award-winning independent bistro in Merseyside.