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Evening Standard

Business

Jonathan Prynn

Soaring wage bill hits profits at Groucho Club as new owners take charge

Groucho Artfarm Pandemic Soho the Groucho Club

Soaring labour costs and inflation have resulted in a big drop in underlying profits at the Groucho Club, latest accounts reveal today.

Earnings at the Soho haunt fell 41% from £1.7 million to £1 million last year, despite the venue being able to return to near normal trading after the pandemic.

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