Contrary to the stories going about in town, about the first class lounge/restaurant- NEWSCAFE shutting down for business, we can confirm to you all,that it's not the true position. The Lounge is definitely re-opening very soon, but at another Location on the Island, as we speak, 2 fantastic locations, one each at Victoria Island and the other in Ikoyi is been considered for the new NEWSCAFE BAR/LOUNGE & RESTAURANT. The reason for the relocation we hear is not far-fetched, its mainly due to the escalating rent at the former location which is denominated in dollars, and since there seems to be a free-fall of the Naira against the American currency, it doesn't make sense to continue paying an astronomical rent-the value of which is determined by the dollar, while profit is dwindling.
But the owners of the business, are not allowing the blight to take them out of business, so they are quietly repositioning, we hear all their staffs are still on standby, while restructuring is going on, also all things been equal, about 3 more branches of the highly successful Bar/Lounge & Restaurant would be opening-1 on the Island,another in Ikeja and the 3rd one in Abuja FCT, while that is going on plans are already in very advanced stages to extend the company's tentacles to Ghana. So its not about shutting down, its about thinking right for the best of the company.
But the owners of the business, are not allowing the blight to take them out of business, so they are quietly repositioning, we hear all their staffs are still on standby, while restructuring is going on, also all things been equal, about 3 more branches of the highly successful Bar/Lounge & Restaurant would be opening-1 on the Island,another in Ikeja and the 3rd one in Abuja FCT, while that is going on plans are already in very advanced stages to extend the company's tentacles to Ghana. So its not about shutting down, its about thinking right for the best of the company.
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