One of the biggest restaurant groups Savor has turned its finances around with a relentless focus on margins. Video / Carson Bluck
Two of Auckland’s popular dining locations have closed their doors over the New Year period, as their owner works on plans for its next venture.
Bar Non Solo and MoVida, located in Britomart’s Seafarer building, have permanently closed, with Savor Group chief executive Lucien Law confirming the news.
Bar NonSolo had been a staple at the location for the past 13 years, located right on the Waitematā Harbour. MoVida was launched in the Seafarers building in late 2022, taking over from Ostro. It was a branch of chef Frank Camorra’s Melbourne restaurant serving Spanish food.
Law said the closures were due to it not reaching a new agreement on a long-term lease with the building’s landlord Cooper & Co.
“We started working with them six months ago and it became clear there wouldn’t be an opportunity for us for another big long-term lease, which is obviously what we need.”
Savor CEO Lucien Law shared that the time had come for Bar Non Solo and MoVida, two of Auckland's most popular eateries. However, a new location is on the horizon.
Law said the location had helped the business grow tremendously since it first opened, and it was chef Josh Emett’s first restaurant in Auckland.
“At the end of the day, look, it’s been 13 years, that building’s done over $80 million of revenue for us, including Covid. It’s sort of past its peak, I guess you’d say. It’s definitely been fantastic.”
Around 30 staff based in the two restaurants had all been offered new jobs within Savor Group before the doors shut, ensuring the talent stays within the industry, he said.
MoVida and Bar Non-Solo were staples of Auckland’s culinary scene, with Emett and Camorra key figures in their success.
Bar Non Solo was the sister location of pizza eatery Non Solo Pizza based in Parnell, with a focus on favourite Italian drops, including spritzes, digestifs, Italian wine and Negroni on Tap.
It also served some of the Non Solo Classics along with a selection of salumi and antipasti, small plates and Non Solo’s pizza.
As for MoVida, the name is synonymous with tapas culture, inspired by its famous founder Camorra.
Camorra was born in Barcelona and spent the first five years of his life in his parents' hometown of Cordoba, Andalusia, before his parents migrated to Australia.
After turning his back on architectural studies to pursue cooking, he found an appreciation for Spanish cuisine and delivered to Australian diners cuisine from his birthplace.
New venture
However, as one door closes another one opens, with Law hinting at an announcement about a new leisure and entertainment offering in the near future.
“It does speak to the level of confidence that we’ve got in coming to the end of this last year.
“Those decisions were made right at the tail of the year, watching what the economy was doing, and how people were feeling and our business is a lot about sentiment about how people feel.”
Law believes economic conditions are beginning to ease, making it the right time for further investment, albeit cautiously.
He shared his confidence in landlords Cooper & Co., expressing his support for their investment in the location.
“What they’ve done with the hotel has definitely added massive value to its other tenants, including obviously hospitality.”
Frank Camorra is the famous founder of MoVida, the popular restaurant inspired by his Spanish heritage cuisine.
It’s not been an easy time for the hospitality industry with a number of eateries going under. Auckland CBD dining institution Vivace Restaurant and Bar was placed into liquidation on Christmas Eve with the loss of 20 jobs.
After 32 years in Ponsonby Rd, the stylish restaurant SPQR was placed in liquidation in July for tax arrears, owing more than $2 million to Inland Revenue and creditors.
Wellington’s cafe culture has been hit by the struggling local economy, people working from home, public sector job cuts, and claims Wellington City Council’s moves to install cycleways and bus lanes have come at the expense of car parks.
Savor’s financials
A trading update from November shows NZX-listed Savor Group was profitable last year.
Its earnings for the first six months of FY25 were impacted significantly by the closure of Non Solo Pizza for renovations.
Revenue for the half year was $25 million, down 6.5% compared to the prior year of $26.7m, with a reported net profit after tax of $1.1m.
The update said the group’s variable cost base continued to improve proportionally to revenue.
“With employee costs for the half year being approximately $1.7 million less than the same period in the prior year and the bulk of the trading to come over the summer months, these efficiencies will continue to improve bottom line results.
“This has been pleasing to deliver, given the significant challenges facing the wider market, and demonstrates the economies of scale of the group with suppliers and the planning and monitoring tools available to maximise our labour base.”
Savor said it was reviewing each of its business units to ensure profitability warranted the overhead allocation as it looked to “simplify the operations and grow the top and bottom lines”.
“As part of this process the group expects to vastly simplify the group overhead structure and result in further cost savings.”
Tom Raynel is a multimedia business journalist for the Herald, covering small business and retail.
