Ed Sheeran’s bar Notting Hill in west London is yet to turn a profit after slipping over £200,000 into the red last year following its financial collapse during the Covid-19 pandemic.
The balance sheet of the company owned by Sheeran, 31, which he prepared in 2018, shows net short-term debt of £861,000 as at December 2021.
Newly submitted accounts show That Dive Bar Portobello, through which the Suffolk pop superstar runs the business, is down £204,000 in 2021.
In the red: Ed Sheeran’s Notting Hill bar in west London is yet to turn a profit after slipping £204,000 into the red last year following its financial slump during the Covid-19 pandemic
After accounting for assets of £120,000 the company was left with a deficit of £768,000.
Sheeran said last year that Bertie Blossoms was struggling to survive the pandemic. “Unless you’re Gordon Ramsay and you have a lot of restaurants, it’s very difficult.”
Last year, the company signed up to Deliveroo, where the cost of wine was halved.
The restaurant — named after Sheeran’s wife, Cherry Seaborn — only opened in September 2019.
Plowing on: The balance sheet of Sheeran’s company, 31, which he founded in 2018, shows net short-term debt of £861,000 as at December 2021
But the 30-year-old The Shape of You singer was forced to close the restaurant last March due to the pandemic.
It comes after Sheeran – who is worth £170million – refused to furlough his ten staff at the restaurant, instead paying their wages out of his own pocket.
The restaurant, whose celebrity customers include Peter Crouch and Abbey Clancy, now offers reasonably priced alcohol with its take-out deliveries.
One ad read: “Fifty percent off all white wine this week. Take the lockdown a little easier and order some wine delivered straight to your door with Deliveroo! Enjoy!’
Sheeran’s three-course, eat-at-home dinners cost up to £26.50 per person and main courses include pasta with vodka sauce.
Boozy: Mr. Sheeran has about 10 employees who run the bar and kitchen at Bertie Blossoms. In April 2020, it was reported that they would not be placed on vacation
The restaurant’s Instagram was updated three days ago with a post that read, “We’re on Deliveroo. Deliver now Tuesday to Friday: 5pm – 9pm and Saturday: 12pm – 9pm.’
Featuring the full takeaway menu, it added: “Try this gorgeous grilled chicken on a couscous salad or many of the other delicious treats on the menu.
“We also serve a variety of alcoholic and non-alcoholic beverages. Go to the deliveroo app to order now’
It doesn’t take long for Ed to return to his old high school to hand out awards to students, where he gave a speech during an awards night.
Last week, the singer-songwriter urged students to “do what you love to do and work hard in school because you have such good routines for the future.”
‘Star met’: Ed Sheeran returned to his old high school, Thomas Mills High School, to hand out awards to students during an awards night in Framlingham, Suffolk on Thursday night
Sheeran, donning a white T-shirt and black jeans, made a surprise appearance at an annual awards night on Thursday night to recognize the “commitment to learning” at Thomas Mills High School in Framlingham, Suffolk.
He famously grew up in the city and now lives on a sprawling estate locals call Sheeranville, in a village a few miles away.
Thomas Mills principal Philip Hurst described Sheeran’s visit as “so special.”
Sheeran was also given a tour of his school and was “delighted” to meet some of his old teachers.
Celebratory: Sheeran, donning a white t-shirt and black jeans, made a surprise appearance at an annual awards night on Thursday night to recognize “commitment to learning” (pictured with a student)
https://www.soundhealthandlastingwealth.com/health/ed-sheerans-notting-hill-bar-in-london-is-yet-to-turn-a-profit-after-slipping-204000-into-the-red/ Ed Sheeran’s Notting Hill bar in London is yet to turn a profit after slipping £204,000 into the red