Petersham Nurseries have closed their three A-List culinary hotspots after Rachel Reeves‘s November budget left them unable to cope with rising costs.

The three spots La Goccia, the Petersham and the Petersham Wine Bar & Deli closed on Sunday.

The Covent Garden restaurants opened in 2018 off the back of the popularity of the original Petersham Nurseries in Richmond, which is housed under a separate corporate partner and will remain open.

The company said cost challenges and issues following Covid and Brexit, had led co-founder and director Lara Boglione to review options for the restaurants.

The group said the ‘looming impact’ of the November budget had left them unable to reconcile revenue with costs, due to increase in the minimum wage and employer’s national insurance contributions.

Ms Boglione said she was proud of what the company had achieved but admitted it was time to ‘consider new locations’.

Petersham UK, the company behind the restaurants is set to enter liquidation.

Joe Milner of liquidators Buchler Phillips told The Times it was a ‘very difficult landscape’ for hospitality ‘against a background of tight consumer spending and growing staff costs as a result of the budget’.

Petersham UK said a  strong sales momentum in 2023 had ‘not continued into 2024’ and blamed Brexit for an ‘inability to recruit people with the right experience and skills.’ 

A company was also facing a £2.2million property bill according to its accounts.

The Boglione family purchased Petersham House in Richmond in 1997.

Soon after, they bought a nearby garden nursery which then opened to the public in 2002.

The garden centre in Richmond made headlines in December when it sold pre-decorated Christmas trees for £1,500.