Soho House bounces back as easing of lockdown restrictions brings out the luvvies
The company behind Soho House and other celebrity hotspots has seen business recover after lockdown restrictions were lifted earlier this year.
Membership Collective Group (MCG) said revenues for the 13 weeks to July 4 came in at £90million.
This was an 118 per cent increase on the same period last year.
MCG chief executive Nick Jones (pictured above at Shoreditch House) was upbeat about the company’s prospects for the rest of the year
People have flocked back to its clubs and restaurants – which are open to the public – including The Ned in the City of London and Scorpios Beach Club in Mykonos, Greece.
MCG chief executive Nick Jones was upbeat about the company’s prospects for the rest of the year.
He said: ‘While the rise of Covid-19 cases creates uncertainty around the shape of our recovery, the pent-up demand we have seen so far from our members as we have reopened gives us confidence in the medium-term outlook for our business.’
The group listed in New York in July, but shares have fallen since its stock market debut, pointing to concerns over whether MCG will ever turn a profit – something it has not achieved in its 26-year history.