Robert De Niro Backed Nobu Restaurants Are Struggling
Robert De Niro is well-known for his many Oscar-winning performances, but the Ameican actor is also the co-founder of Nobu. Nobu serves up a collection of Japanese-Peruvian cuisine and has done so well that today the brand has expanded to include eight luxury hotels and now is considered a lifestyle brand. However, despite its explosion across the globe, the high-end brand has been suffering lately as a result of the pandemic forcing DeNiro and his partners to consider taking funds to help the fledgling company hold on until the pandemic starts to ease off.
Nobu is a Partnership Between De Niro and Nobu Matsuhisa
De Niro first sampled Nobu Matsuhisa's in LA when he sampled some of the celebrity chef's dishes. He was instantly a fan and told the chef that if he was ready to bring his tasty treats to New York City (De Niro's hometown) let him know. This evidently is what got the wheels moving, because just a few years later in 1994 the duo opened Nobu along with De Niro's friend and fellow film producer Meir Teper. The very first Nobu took off in Tribeca and from there the brand just grew opening restaurants across the US before the founders decided to expand into the hotel arena by offering the same great meals and luxury accommodations.
Nobu Receives millions from the Paycheck Protection Program
After a successful six years, Nobu is now struggling as the pandemic has hit the hospitality and restaurant industry particularly hard. Luxury brands in particular are having a hard time weathering the storm, which may be one reason why the upscale Nobu restaurants are not drawing in the same customer base they enjoyed just a short two years ago. Data released from the Department of Treasury shows that the fine-dining chain received millions in government funds which no doubt the founders are hoping will be enough to keep them afloat for the time being. Nobu currently has restaurants located in Texas, California, Florida, and New York.
Robert De Niro's Nobu Faces Backlash
While the exact number of funds received by Nobu is unknown, it would have been eligible to receive between $11 million and $28 million which has infuriated thousands of people who are angered by big brands taking money that should be distributed to small businesses across the country. Nobu is not the company to receive backlash, as Kanye West's designer clothing range, P.F Chang's, and Shake Shack all came under fire for accepting funds. It is hard to believe that Nobu falls into the category of small business given that it was set to be worth over a billion by 2023 if Covid-19 had not gotten in the way.