Kamal Boustani Takes Over Femi Akande, Hakeem Murhi Okunola’s Shut Down N200m Fun Spot, News Cafe!

Lebanese business owner of eatery Double 44 and haven of enjoyment K’s place, Mr Kamal Boustani just expanded his business frontiers.

He has secured the operating space of shut down talk of the town fun spot, News Café.

The business that has Permanent Secretary in the Lagos State Ministry of Lands, Akeem Murhi Okunola as major stake holder -and man about town Femi Akande and four others as partners- was shut down on the grounds of the need to renovate the enjoyment spot and put in place an improved facility and services, as part of efforts to provide added value to the patrons.

Weeks rolling into months after News Café sited inside A-listers preferred shopping spot, Shoprite, Lekki Lagos was supposedly shut down- it was not reopened and now there is confirmation that the closure is permanent with the taking over of it’s operating space by Mr Boustani.

According to information made available to www.societynowng.com Kamal intends to move another of his businesses, Virgino Café from the interior of Shoprite to the exterior spot formerly utilized by News Café.

Mr Boustani presently on a visit to Lebanon – for the Ramadan season- reportedly paid a one year rent for the facility a couple of days back before he travelled out.

Fresh investigations into the closure of News Café that paved way for Kamal’s incursion into the area have unearthed startling revelations.

Though a talk of the town phenomenon, News Café was said to have been shutdown as a result of increasing debt.

Informant alleged that the business valued at two hundred million- taking into consideration all encompassing cost, including franchise acquisition from parent company in South Africa- allegedly didn’t recoup investors fund all the while it operated.

The greatest challenge it reportedly faced was from supposedly top shots and friends of the owners that drew quite a tab on their credit facility and refused to pay up.

Further investigations revealed that because of their personalities that forbid the owners getting overly confrontational in recouping the debts- most of the money owned ended up bad debts.

This factor and other related operational hindrances are now cited as the reasons Hakeem Murhi Okunola and friends refused to resuscitate the shut down fun spot- a decision that has now proved very advantageous for grounded figure in the Nations entertainment business, Mr Kamal Boustani.

Major stakeholder in News Cafe Mr Hakeem Muri Okuola did not respond when we contacted him on the development.