Bubbacue, the barbecue restaurant chain in Northern Ireland has closed its doors for the last time. The closure came as somewhat of a shock as only months before the owner of the restaurant had declared expansion into other areas of the republic after securing a loan for 400 000 pounds. Voluntary liquidation of the business has been cited as the reason behind the closure. The sudden bout of misfortune seems to target Northern Ireland restaurants if the spate of sudden closures is anything to go by. The food sector in the area is certain to take a knock this time around.
The 400 000-pound loan which was secured a few short months before the closure was a Growth Loan Fund which was meant to see the chain expand in Northern Ireland and the rest of the republic. John and Karen Blisard, the owners of the now-closed Bubbacue, secured the loan in June last year when the business was at its highest point. The restaurant and food market are a tough one, profit margins are slim and even the slightest fluctuation in rentals or even produce prices can be the lead to your demise. Business in Northern Ireland would be provided with a much-needed boost to grow with a reduction in the VAT, however, whether that will happen is under speculation.
Effects Far and Wide
While it is obvious that the food and beverage sector in the area is under strain and feeling the brunt of an industry that is competitive, there are others to consider when these kinds of closures take place. More than 35 staff members across the restaurants will be affected by job loss but that in effect equates to many more, families included. It is going to be a tough period for many to endure. The restaurant owners have thanked their staff and patrons for the support granted them through the years.