Coronavirus

Soho House secures $100m in equity funding

Soho House has reportedly secured an additional $100m (£80.2m) to help it see out the impact of the coronavirus pandemic which has seen the closure of its restaurants and member clubs.

According to Sky News, Soho’s biggest investor, American millionaire Ron Burkle, has formed a group of new and existing shareholders to make the investment.

The injection was also reportedly made against the same $2bn (£1.6bn) valuation at which the company raised $100m (£80m) late last year.

Its UK estate, which comprises three London restaurants and a selection of member clubs and venues, is waiting to reopen along with the rest of hospitality next month.

A Soho House spokesman told Sky News: “We have secured additional equity funding as a follow-on to last year’s equity investment, which underlines the $2bn valuation of Soho House.

“It is led by Ron Burkle personally, and shows his belief in the business.”

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