In mid-May, the company filed a motion to initiate bankruptcy proceedings at the City Court in Prague, and wants the court to declare bankruptcy on its assets. He has yet to make a decision, according to documents published in the bankruptcy register.

Master Mariner’s company became unprofitable in 2019, when the Nordsee branch in the Arkády Pankrác center in Prague stopped functioning. According to the company, the next two years of business were impacted by the company’s forced closure due to the spread of the coronavirus.

Even this year, attendance has not returned to pre-coronavirus levels, leaving the company unable to pay new and previously unpaid bills, he said in the bankruptcy proposal. The company registered a debt of around 40.3 million crowns. The lion’s share is in the crown, the rest of the liabilities are in euros and Swiss francs.

Due to the notice of the lease, the company had to lay off the remaining employees, which numbered about twenty people, some of whom were on main employment contracts, some with agreements to do the work.

The first Nordsee restaurant in the Czech Republic welcomed guests in 2004, ten years later Master Mariner operates four restaurants under this brand.

Gastronomic establishments were the most dynamic growing sector in shopping centers before the pandemic, according to CBRE. However, as a result of anti-epidemic measures, they have significantly decreased. In the first year of the pandemic, their sales at regional shopping malls fell 35 percent year-on-year. Despite increasing last year, revenue is still 17 percent behind 2019, according to the current analysis of the CBRE Shopping Centers Index.