Perry Street Market Cafe has announced the immediate closure of all three of its locations in Cork due to rising costs and “unprecedented challenges” facing the hospitality industry.
According to the most recently available accounts for Perry St Market Cafe Ltd, for the year ended December 2022, the company owed creditors just over €1.1m, including around €500,000 in taxation.
At the height of its success, they were operating at five locations, but that had reduced to three in recent years — Perry St, Grange and Ringaksiddy.
The Restaurants Association of Ireland (RAI) criticizsed the government for ignoring the difficulties of the hospitality sector, warning that more food-related businesses may shut down during the upcoming general election campaign. RAI CEO Adrian Cummins shared: “The government is not listening to our concerns. They just don’t understand how bad it is our there for our members. We have explained to government that we didn’t want grants. The financial structure is broken. There is just no margin in the business anymore because costs are out of control,” he said. “The decision in the budget not to reduce Vat for the sector was the nail in the coffin. We will continue to lobby but we will have to wait until a new government is formed. And unfortunately, we will see more closures during the election campaign.” Owners Brian Drinan and Paul Coffey shared: It is with deep regret that we announce the immediate closure of all three Perry St Market Cafe locations. The hospitality industry has faced unprecedented challenges in recent years, and these difficulties continue to intensify. Reflecting on the many good years, we want to extend our heartfelt thanks to everyone who visited our restaurants. We have had the privilege of serving wonderful customers, watching families grow and sharing countless memorable moments with our community.”
