Losses widen at owner of scandal-hit The Groucho Club
Losses have widened at the owner of The Groucho Club in London despite its turnover rising during its latest financial year.
The Groucho Club is one of London’s most famous private members’ clubs and has been going since 1985.
The Soho venue was founded a a more relaxed alternative to traditional gentlemen’s clubs and has a long association with A-list celebrities such as Princess Diana, Kate Moss, Harry Styles and Ant and Dec.
Other famous faces to come through the door have included Rod Stewart, Freddie Mercury, Liam Gallagher, Keira Knightly and Lily Allen.
The Groucho Club has been owned by Somerset-based Artfarm since it was acquired for £40m in 2022.
Artfarm, which itself is owned by the Swiss art gallery investors Iwan and Manuela Wirth, also has a portfolio which includes Mount Street restaurant, the Fife Arms in Scotland and Durslade Farm Shop in Somerset.
Now, new accounts filed with Companies House have revealed Artfarm’s pre-tax loss widened in 2024 from £11.7m to £17.9m.
Its turnover rose from £42.2m to £49.1m over the same period.
Artfarm said The Groucho Club’s revenue at the end of November 2024 totalled £8.7m, up from £7.6m.
The Groucho Club closed down
In November 2024, The Groucho Club closed after claims a “recent serious criminal offence” had taken place at the premises.
Westminster City Council suspended the Soho venue’s licence after a request from the Metropolitan Police.
At the time, it was reported that the private members club had co-operated with the council’s licensing sub-committee, acknowledged the seriousness of the allegations and accepted the decision.
The Groucho Club reopened in December 2024 after the council’s licensing committee ruled it could subject to conditions agreed with the police.
In a separate care, in June this year it was reported that an MP faced trial over allegations he groped two women in one night while drunk at The Groucho Club.
Patrick Spencer, the MP for Central Suffolk and North Ipswich, pleaded not guilty to two counts of sexual assault at Westminster magistrates court on Monday, 16 June.
Spencer was elected as a Conservative Party MP, but lost the whip in May after being charged.
The trial has been set for 13 July, 2026.