Peter Thomas continues to struggle with his business ventures. In his first season on Real Housewives of Atlanta (he is the husband of cast member Cynthia Bailey) Peter decided to close his lounge Uptown. His second venture, Bar One, may also be in danger of closing. Is Peter a bad business man or does he just have some bad luck?
Peter's first venture was a club called Uptown. The lounge got mostly great reviews. Despite being in what one reviewer called a sketchy location on Courtland Street in downtown it sounded like the business was a success. Peter told Uptown Magazine he closed Uptown due to the recession. He told the magazine “When Cynthia and I joined the show, viewers all watched me lose Uptown. People acted like I lost it because I am somehow a bad businessman. Uptown (Lounge) closed due to the recession. Real institutions, like General Motors, were about to shut their doors. But remember, they got bailout money. Who bailed the black businessman out? Nobody. Bailout money went to white CEOs." Peter decided to close Uptown just before his wedding to Cynthia Bailey. Per Pop on the Pop Peter failed to pay $25,000 in expenses for the bar.
Peter then went to work opening a trendy tapas hot spot called barOne. Located east of downtown on Memorial Drive it has mostly favorable reviews. However, barOne has had its problems. It's website is still under construction despite being open since 2011. One year there was a lot of flip flopping on Twitter regarding the bar's New Year's celebration. There was a problem communicating the hours of operation for that night and the cover charge. It was recently reported that Peter's bar is in foreclosure. Peter then clarified that the landlord is in foreclosure and he has been paying his rent in full and on time. Per Madame Noire Peter says he wanted to meet with the landlord to talk about buying the property but the guy never showed up.
Also per Madam Noire Mr Cynthia Bailey is now trying a different business model. He is launching a line of Jamaican coffee.“Coffee is the number two commodity is the world behind oil and there are not many people of color in the business who are roasting their own beans and packaging their own coffee products,” Peter told Uptown Magazine. “It’s a lucrative business and one that can make a lot of money. We’ve done a very small soft launch online and sales of the Jamaican Rum flavored coffee have been steady. A much larger launch is coming and people are going to be quite impressed with the brand.”
Real Housewives cast members have had a lot of luck launching products and promoting them on their shows. Here's wishing Peter's coffee line is a smashing success!
Do you think Peter is a bad business man?
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