Bewley’s on Grafton Street to close (again)

The iconic Bewley’s is to close again (it’s had a rocky 21st century so far). The current owners point at the high rent among other reasons.

In a note to staff, the cafe’s managing director Cól Campbell, a son of Paddy Campbell, outlined the impact of the lockdown on the business and highlighted the added costs of social distancing measures, once cafes and restaurants are allowed to reopen on June 29th.

He also cited its €1.5 million annual rent as a reason behind the decision, saying that a request for a rent reduction had not been granted. The building is leased from RGRE Grafton Limited, which is controlled by property developer Johnny Ronan. The rent amounts to about 30 per cent of the cafe’s sales.

Seems to me that other than owning a bank, owning property is the second most protected thing in capitalism in Ireland at least.

[Image: Deserted streets at the Shelbourne Hotel, Dublin]