'Goulash co-operative' in last ditch bid to save Soho's Gay Hussar Hungarian restaurant

 
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Robin de Peyer2 December 2013

A "goulash co-operative" is making a last ditch bid to safeguard the future of Soho's legendary Gay Hussar restaurant this week.

The consortium, which includes the likes of former Labour leader Lord Kinnock and Tory donor Lord Ashcroft, is bidding for the restaurant when it goes on sale on Thursday.

A long-time favourite of left-wing politicians and journalists, the Gay Hussar, in Greek Street, has been put up for auction by owners Corus Hotels after seeing profits take a hit in the recession.

But the newly formed Goulash Co-operative Ltd, made up of a group of journalists, politicians and lawyers, aims to allow the Hungarian restaurant to remain open.

Its directors include former editor of The People, Bill Hagerty, left-wing journalist and author Mark Seddon, Labour MP Tom Watson and cartoonist Martin Rowson.

"It's got a great history, it's been there fore 60 odd years, and there's something really rather timeless about it," Mr Seddon told the Standard.

Hussar: the inside of the restaurant, scene of many a political lunch

"It's always had this reputation for being where journalists met to gossip and politicians met to plot. It's been part a London political and media home for over half a century."

"We think we can actually give this place a future," he added. "There's been a lot of interest in it, and quite a lot of people have brought shares."

The co-operative is aiming to raise "at least" £200,000 to secure the Hungarian restaurant's lease for eight years, with investments offered in units of £500. The vendors are asking for £500,000 for the eight year lease when it goes on sale on Thursday.

Its letter to prospective investors says: "The Gay Hussar, as we all know, is part and parcel of a rich culinary, journalistic and political tradition. It has been serving customers for over sixty years and is the only Hungarian restaurant in London.

"This is our one chance, not only to give a new lease of life to a great restaurant – but to show that there is a better way of organising and running a venture, one that is co-operative in nature."

Other supporters include LBC presenter Iain Dale, Neil and Christine Hamilton and Labour MP John Cryer. Our reviewer, Grace Dent, was less than impressed, however.

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