Petersham Nurseries Closes Covent Garden Restaurants Due to Business Challenges
Founded in 2018 by the Boglione family owners of Petersham Nurseries, La Goccia and The Petersham restaurants have ceased operations. The family cited a combination of Brexit, COVID-19, and recent fiscal measures as factors contributing to their decision.
Despite efforts to address high fixed costs and increasing expenses, management deemed the restaurants financially unsustainable. Lara Boglione, current CEO, expressed regret but stated the need to explore new options.
The closures, limited to the Covent Garden establishments, will not affect the wider Petersham Nurseries group, which includes a garden center, lifestyle boutique, and Michelin Green-starred restaurant in Richmond.
Petersham Nurseries originated in the Boglione family home, Petersham House, in the early 2000s. Italian entrepreneur Francesco and his wife Gael established the garden center in 2002, now renowned for its high-end gardening products.
Lara Boglione took over the business in 2011, expanding it to include Petersham Cellars. In 2018, she opened the Covent Garden restaurants.
The closures come amidst a challenging economic landscape, with rising employer National Insurance contributions anticipated to impact sectors such as hospitality, art, and retail.
Jo Milner of Buchler Phillips, liquidators overseeing the closures, acknowledges the disappointment but notes the fragility of the hospitality industry in the current environment.