Eye-watering energy costs force Top 50 Gastropub to shut
Energy costs had soared six times at the Cadeleigh Arms, with one final bill charging the pub £3,500 versus a usual £600. This comes after the site in Tiverton was crowned the UK’s 17th best gastropub earlier this year.
“It’s happening everywhere,” said Nick Hack, who co-ran the pub with his partner Tina King. The closure is the latest in a long list of pubs shutting their doors, including fellow Devon-based Estrella Damm Top 50 Gastropub the Five Bells Inn.
While energy costs were the final nail in the coffin, climbing food prices and reduced footfall also contributed to the pub’s economic downturn.
“We were not cheap, but there’s a point where we’re not a Michelin star restaurant that can charge £40 to £50 for a main course,” said Hack.
By the time the Government scheme to help businesses with energy costs was implemented, the team had already decided to shut.
“We came up to London the other week, the pubs are heaving, so I’m not saying nobody’s going out, but in certain areas and sector, it’s being hit harder than others.”
The Cadeleigh Arms had “turned a corner” pre-Covid and was making serious money. But post-pandemic, revenue has plummeted. It had reached a point where Hack was considering using savings to try and cover bills, something he had vowed to never do again.
Heart-breaking decision
This prompted the “heart-breaking” decision to close. “We just sat down and discussed it in the pub, and we walked around it thinking, ‘is there anything else we can do?’ and the answer’s no at the minute.” Losing the pub also meant losing a home: Hack, King and their daughter had all lived on site.
Since the closure, Hack said a slew of venues had reached out fearing they would soon reach the same fate.
“Believe me,” he warned, “there’s a lot of them still clinging on with fingernails, and if they weren’t bound and tied by contracts, they would [close] as well.
“It goes from little drinking pubs all the way up to Michelin restaurants. It’s happening to everybody, and even though we can all post happy Instagrams about how wonderful the business is, underneath all that bubbling away are people genuinely worrying.”
While the pair of publicans had been inundated with tonnes of offers of pubs and restaurants, they wanted to take a step back from it all and start again, rather than jumping straight back into the trade.
Hack said he probably wouldn’t touch anything until 2024. “We’re going to sit back and watch everyone else for a bit,” he said.
However, he made clear he and Tina still wanted to do their bit for the sector. Food blogging, private dining and managing events were all on the cards.
Enough's enough
“It’s all positive,” he added, “but we still have down days because we built such a beautiful place, and the customers that come here don’t understand why it’s closed.”
This, for the chef, was the most hurtful thing. “They think you can just buy a pub, serve beer, serve food and make money in the till.”
Hack’s advice to struggling publicans? “Get out”.
“It's down to each person, but if you’re starting to dip into your savings, and you’re doing it to save face, you don’t want to go down like that,” he said.
Face the fact it was time to sit down with your business partner for a reality check, he added. ”Enough’s enough”.
