Corney & Barrow grows despite fears of downturn

Corney & Barrow is about to open its first new outlet for three years despite worries that a downturn is hitting pubs in London and the south.

The wine bar in the Citypoint office development in Ropemaker Street, Moorgate, east London, will be its 13th outlet when it opens in September.

The investment coincides with fears about a downturn for City firms, which is said to be affecting pubs and bars in the capital.

Last week, it emerged that high-profile bar High Holborn (pictured)​ in central London had called in administrators.

Joint administrator Paul Clark, of Menzies Corporate Restructuring, said it was hit by the knock-on effect of a slowdown for firms in the City.

"We shall have to see whether this is the start of a general downward trend in the London region," he said.

"It is certainly a strong possibility that we will see many similar cases in the coming months for this type of small business."

Corney & Barrow Wine Bars managing director Sarah Heward said: "Admittedly the market is not as buoyant as it was last year. But we are confident that the recent restructuring and creation of a new dynamic management team will result in increased efficiency and improved results."

The company has strengthened its management team with the appointment of Ed Gardner, from Bedford brewer Charles Wells, to the new role of director of purchasing and marketing.

Lucy Walsh has been promoted to operations director after working for the business for five years.

Other investments include a complete renovation of its flagship bar in Broadgate Circle in the City.