A looming threat of closure is hanging over two highly regarded central London restaurants, with discussions set to take place next week over their future, according to reports.
The Petersham and La Goccia, two Italian à la carte establishments located in Floral Court, Covent Garden, are at the centre of a rental dispute between their owners, the Boglione family, and their landlord, Shaftesbury Capital. The row has escalated to the point where the fate of the restaurants now rests on urgent talks scheduled for early next week.
The owners of the two restaurants, part of the broader Petersham Nurseries brand, have reportedly been in a protracted battle over rent terms with Shaftesbury Capital. The company, Petersham UK Limited, which runs both the Covent Garden restaurants, has already filed two High Court notices this month to declare its intention to appoint administrators. These filings were made in an attempt to buy some breathing space while continuing negotiations with the landlord to secure lower rents.
Despite the tense situation, it is understood that the dispute does not extend to the wider Petersham Nurseries business, which operates a garden nursery, a lifestyle shop, and a Michelin Green-starred restaurant in Richmond. This suggests that the financial issues are specific to the two Covent Garden restaurants, which were opened in 2018 under the direction of Lara Boglione, the daughter of Francesco and Gael Boglione.
Lara, who took over the day-to-day operations of the family business in 2011, has been instrumental in expanding the Petersham brand. She oversaw the establishment of the wine merchant Petersham Cellars and played a significant role in the opening of the Covent Garden sites. Despite the strain across the business, Lara has managed to maintain a high profile within the London restaurant scene.
However, recent difficulties have put significant pressure on the family’s operations. HM Revenue and Customs (HMRC) had submitted two winding-up petitions against Petersham Cellars earlier this year, although both have since been withdrawn. These petitions added to the financial strain facing the business, with the ongoing rent dispute now threatening the viability of the restaurants.
Lara Boglione, whose godfather is Rolling Stones frontman Sir Mick Jagger, divides her time between London and Italy, where her husband Giovanni’s family has an estate in Tuscany. In November, she spoke to the Financial Times about the challenges posed by rising rent costs, stressing that higher rents could severely impact the future of the business. She explained: “In order for the businesses’ continued viability, we need to resolve this as soon as possible, having already made extensive efforts to have constructive discussions with the landlord.”
Reports suggest that talks between the Boglione family and Shaftesbury Capital have been ongoing for several weeks, although the resolution of the dispute has been delayed due to the festive period. With the businesses now in a precarious position, the upcoming discussions will be crucial in determining whether the restaurants can continue to operate or face closure.
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The possibility of the two restaurants being forced to close would have far-reaching consequences for the Petersham Nurseries brand, which has been a staple of the London dining scene since its launch in 2002. The family business, which began with the acquisition of a garden nursery in Richmond, has since grown into a respected name in the hospitality industry. However, the current rental dispute and financial strain could threaten the future of this celebrated establishment.
Shaftesbury Capital, the landlord, and Buchler Phillips, the administrators lined up in case of closure, have not commented on the situation. The Boglione family has also declined to make a statement, leaving many questions unanswered about the future of the Covent Garden restaurants.
As the situation develops, both staff and customers of The Petersham and La Goccia will be watching closely to see whether the talks can lead to a resolution or whether the axe will fall on these popular dining spots.
