Luxury Takes a Toll: Michelin-Starred Restaurant Shuts Its Doors Due to Exorbitant Prices

Luxury Takes a Toll: Michelin-Starred Restaurant Shuts Its Doors Due to Exorbitant Prices

After operating for 26 years, a renowned Michelin-starred restaurant in Belfast, Northern Ireland, is shutting down due to rising costs that have become too burdensome for both customers and the restaurant owners.

Deanes EIPIC, the flagship fine dining establishment of a culinary empire established by Northern Irish chef Michael Deane in the 1990s, earned its first Michelin star within a year of its opening as Deanes in 1997.

However, this month, the company announced that Deanes EIPIC would be closing its doors by the end of 2023 as a result of increased price sensitivity among customers and the adverse effects of Covid-19, Brexit, and the cost-of-living crisis. The restaurant plans to relaunch with a new focus on “value for money.”

Head chef Alex Greene, a finalist on the UK TV show “Great British Menu,” believes that this move reflects a growing trend in the hospitality industry.

He states, “EIPIC as a whole wasn’t a restaurant that was dying,” but “people have certain expectations when they walk through the doors. The cost of meeting those expectations has doubled since the lockdown, and it has spiraled out of control. Unfortunately, we cannot double the price.”

While tasting menus at EIPIC cost £100 (approximately $123) per person, which is not exorbitant by fine dining standards, Belfast, being a small city, lacks the influx of affluent diners found in major cities like London or Paris.

EIPIC follows the traditional fine dining model that has earned many Michelin stars across Europe and beyond. However, according to Greene, “the more luxurious end of dining, with white linen tablecloths and formal service, seems to be fading away.”

Modern Michelin-caliber restaurants are opting for a more stripped-down approach. While the passion, dedication, and quality of food remain, the elaborate table settings and formal service have given way to a more economically efficient model. Although there is still a market for traditional fine dining, it is shrinking.

The UK hospitality industry is also grappling with labor shortages. “Finding staff with the right level of dedication, knowledge, and skills is extremely challenging and costly,” says Greene.

Greene and Deanes EIPIC’s general manager, Bronagh McCormick, are relocating outside the city to embark on a new food venture in the Mourne countryside south of Belfast in 2024. Rural Northern Ireland, once lacking in quality food and drink options, has experienced a post-Covid boom, similar to other parts of the UK countryside.

Greene explains, “If we take Belfast as an example, this year has seen numerous rate increases, property insurance hikes, and an overall rise in costs within the city.” In contrast, the Mourne region, renowned for its mountains and coastal beauty, was recently designated a UNESCO Global Geopark. Additionally, the seaside resort of Newcastle will host the Irish Open golf tournament next year. Greene notes, “People are willing to travel from the city or anywhere for good food and accommodation, and the costs of providing that experience in the countryside are significantly lower than in the city.”

Deanes EIPIC joins the list of high-profile restaurant closures. In January, Copenhagen’s renowned Noma announced its closure, with owner René Redzepi stating that the fine dining business model was “unsustainable.” In August, English-French celebrity chef Michel Roux Jr. also revealed the closure of his two-Michelin-starred London restaurant, Le Gavroche, in January, to prioritize achieving a better work-life balance.

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