Just days after Alfred & Constance went into receivership, 2018 has claimed its second hospitality scalp, with restaurateur TJ Peabody announcing in a press release yesterday that his two Barracks restaurants, Burnt Ends and Nativo, won’t be reopening after the Christmas period. NKB Group’s Nantucket Catering has also ceased trading.
Peabody blamed the closures on the costs involved in operating high service restaurants. “Our goal for both restaurants and the catering business was always to over-deliver on customer expectations,” Peabody said in the release. “While we firmly believe we achieved that, the challenge we had was matching our goal with the costs involved. It simply became financially unfeasible.”
Peabody said the businesses are not bankrupt, meaning staff will receive any payments and redundancies owed. Outstanding gift vouchers will also be refunded to customers.
The closures seemingly bring to an end a giddy but short-lived experiment in the local hospitality market for Peabody. NKB Group started in May 2014 with Nantucket Kitchen & Bar and soon after NKB Express, both in Indooroopilly. Nickel Kitchen & Bar followed in the Valley in 2016, with Nativo and Burnt Ends opening last year.
All have now closed except for NKB Express, which will continue to trade until a new owner is found.