Exclusive Soho House fails to find mass appeal

Soho House has failed to impress at its stock market debut yesterday. Membership Collective Group, which owns the private members club, raised $420m in a float on the New York stock market, selling 30m shares at $14 each – the lower end of expectations. By close of play, the shares had slumped 9.6% to $12.66. The company has dozens of sites around the world and had sought to attract investors with plans of even further expansion, including new sites in Paris, Rome and Tel Aviv. Soho House has yet to make a profit, however, and generated a net loss of $93m on total revenue of $72m in the first quarter. The Times (£) To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews