By Elias Schisgall
Shares of Soho House fell after a key investor helping take the luxury members' club private said it wouldn't be able to meet its commitment to purchase $200 million worth of shares.
Soho House stock slipped 17%, to $7.43, midday Thursday. Shares have fallen 1.9% over the past year.
New York-based MCR Hotels on Monday informed Yucaipa Cos., the private-equity firm of Soho House controlling shareholder Ron Burkle, that it wouldn't be able to meet its $200 million commitment by the closing date, according to a Thursday filing with the Securities and Exchange Commission. MCR was leading the group of new equity investors seeking to take the firm private, according to The Wall Street Journal.
"Yucaipa and the Special Committee of the Board of Directors of the Company, together with their respective advisors, are engaging with affiliates of MCR, as well as other parties, to secure the funding of the $200.0 million evidenced by MCR's Closing Commitment," Soho House said in the filing.
"While numerous options are being pursued, there can be no assurance that such efforts will be successful," the New York company added.
It said it would proceed with a special meeting of shareholders to adopt the merger agreement on Friday, adding that it hopes to close the transaction as quickly as possible.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
January 08, 2026 12:45 ET (17:45 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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