Wealth Bulletinreports that Tatsuso, an expensive Japanese restaurant located in London, is closing. The recession took its toll on the restaurant which lost business as big spenders on business accounts vanished during the economic collapse.
The closure of Tatsuso marks the end of the boom days of big expense accounts and lavish client entertainment. The restaurant was in the Broadgate development near big spenders such as trading firm Icap, UBS and Lehman Brothers (before it moved to Canary Wharf), and had a reputation for serving some of the best Japanese food in London. The average price per head was a "breathtaking" £80, according to restaurant guide Harden’s.
News of Tatsuso's closure comes a week after news that Gordon Ramsay Holdings, the eponymous restaurant group run by the high profile British chef, was only rescued from administration last year after Ramsay injected some of his own money into it.
Mehmet Arkin, the appointed liquidator, said Tatsuso had been hit by the collapse in corporate entertainment and expenses budgets, and that several City institutions had closed their credit accounts with the restaurant at the start of this year. In the six months before its closed, turnover was down 50%, he said.
Wealth Bulletin says the restaurant went into liquidation in May. It doesn't sound like the retaurant will be returning. You can see a listing for Tatsuso here.
