The owner of a network of members’ clubs built on exclusivity is offering up its stock to the masses. Membership Collective Group, parent company of the Soho House chain of private clubs, raised $420 million in an initial public offering of 30 million shares Wednesday. The shares sold at $14 each, the low end of an expected $14 to $16 range, according to Bloomberg. The IPO values the company at around $2.8 billion. Based in
UK hospitality employers could cut half a million jobs
Britain’s largest hotel lobby warned that employers may cut half a million jobs when the government ends its wage support program. A representative for UK Hospitality told Parliament on Monday that its members owe around $132 million in back taxes and owe landlords roughly $5.1 billion, according to Bloomberg News. The government’s furlough program has helped draw investment to the United Kingdom’s pub and bar sector. “All it takes is one landlord to be recalcitrant