Three more Cape restaurants end up on auction block

COVID-19 lockdown restrictions on the hospitality trade continue to bring restaurant assets to the auction floor.

The furniture and equipment of three popular restaurants in the Bayside Mall at Table View will be sold by Langs Auctions on September 9 at 11am.

On offer will be the assets of the Bayside Mall branches of household names in the food industry Steers, Mugg & Bean and Fishaways. All three mall branches were operated by Brioso Foods, now in liquidation.

Among the lots to be disposed of will be quality furniture such as tables; chairs; bar tables and stools and wooden benches and frames. Chandeliers, TV sets and printers are also on auction. The equipment to be sold ranges from coffee and ice machines to pots and ovens. The hammer will also fall on work tables, microwaves, dishwashers and chest freezers.

The lockdown’s effect on the hospitality industry in Cape Town has been severe with auctions of once-successful restaurants staged alarmingly regularly.

An auctioneer recently told Weekend Argus Level 2 had arrived too late for restaurants and that his company had not experienced such a tsunami of restaurant assets for auctioning in more than three decades.

The industry expects more of the same in the weeks and months to come.

However, Moses Langeveld, of Langs Auctions, says the situation will provide those with the liquidity and capacity to wait for the boost in business, that will hopefully come later this year, with quality assets to revive the restaurants.

“The assets on offer from us should attract strong bidding as affordability is likely to be the key feature,” Langeveld adds.

Viewing for the auction of the three Bayside Mall restaurants will be at the Steers restaurant on September 8 from 9am to 4pm and can be arranged with Moses Langeveld on email moses@langsauctions.co.za or at 021 913 0763 or 082 659 9696. Covid-19 regulations will be in place at the viewing and the auction.