Celeb haunt Ithaca to close
TROUBLED bar and restaurant Ithaca is to close at the end of the month after investors pulled out of a rescue deal.
Parent company Ithaca Manchester went into voluntary liquidation last December after trading for just 18 months leaving the venue on John Dalton Street seeking new investors to safeguard its future.
Opulently-decorated at a cost of more than £4m, but dogged by project delays and a long-standing row over opening hours with the nearby church, The Hidden Gem, Ithaca will close on February 28 with around 40 job losses.
Assistant manager Stewart Wilson told TheBusinessDesk.com: “It is really sad. We had three investors – two Premier League footballers and an Abu Dhabi-based businessman, Paul Bell, who were ready to do a deal.
“But with the bad weather in January and low spending the business made a loss and that scared the investors off and the business can’t continue without capital,”
Mr Wilson said founder Arnie Hira’s health had suffered in the last few weeks as he fought to attract new investment.
“There were a lot of tears yesterday when the decision was taken to close down.”
Mr Wilson said he hoped the Ithaca brand could yet be resurrected and there was interest from “several leisure operators”.
During its brief history, Ithaca did manage to attract A-list celebrities including Jay Z, Kanye West and Victoria Beckham.
The fate of Ithaca follows that of another of Mr Hira’s ventures, the Odyssey bar in Altrincham, which also failed after a high profile launch.
