The Nordsee chain of fish restaurants in the Czech Republic is ending

After the Iceland chain, which found itself in bankruptcy, the Nordsee restaurants specializing in fish products also ran into problems. The news was brought by TV Barrandov. The Municipal Court in Prague confirmed the bankruptcy of ICL Czech, which operates domestic stores of the British food chain. The Master Mariner company applied to the court for a declaration of bankruptcy for its assets. The restaurant of the German chain Nordsee operates in the Czech Republic. This follows from documents published in the insolvency register, reports TV Barrandov.

Chains focused on the middle category are most at risk

The operator of the Nordsee restaurant chain, Master Mariner, was terminated from the lease in the Palladium and Nový Smíchov shopping centers in Prague. The reason is the company’s inability to pay its obligations, iDnes wrote. The company became unprofitable in 2019, when the Nordsee branch in the center of Arkády Pankrác ceased to function. The next two years affected business, according to the company forced closure of establishments due to the spread of the coronavirus disease. Even this year, attendance did not return to pre-Covid levels. The company is thus unable to pay new and unpaid invoices.

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Economist Vít Hradil from the company Cyrrus assumes that Czechs will soon have to get used to the ends of other well-known brands. In general, it can be said that the real purchasing power in the Czech Republic is decreasing,” told Events247. According to him, it will be the biggest problem for chains or retailers. “I probably wouldn’t worry so much about those completely specialized in luxury clientele. After all, such customers do not get into existential problems, on the contrary, they can often be motivated to spend money before inflation eats away their value,Hradil added for Události247.

A gap will remain in the market

As the economic expert goes on to state, he does not foresee a threat to retailers who trade directly “on the bottom” price spectrum. “You’re typical there, after all necessities that one must always indulge in – basic food, fuel. Those in the middle class, who do not necessarily rely on mobile citizens, but rather on the middle class, are at risk. She already has to give up some popular products in the event that she simply does not get the money. The chain in question seems to fit right into that category.” says the economist Událostem247.

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Vladěna Stehlíková told Událost247: “A few years ago, my friends and I discovered Nordsee, we liked going there after work. But it’s true that recently prices have gone up terribly. A person should treat himself to such a visit only exceptionally, when he wants to make himself happy. But I’m still sorry that it’s ending, it’s hard for anyone to fill that gap. I’m definitely not switching to hamburgers.” On the website, both Prague stores still report that they are open and invite you to visit them. However, their contact phones are equally deaf.

The article is in Czech

Tags: Nordsee chain fish restaurants Czech Republic

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