Iron Lilies has confirmed it will reopen this November with a new look, refreshed concept, and renewed focus on affordability — following a temporary pause in trading earlier this year.
In a statement issued in response to recent comments made by members of Hull Labour Group regarding the funding awarded to the venue and its subsequent closure, the company said it wanted to “offer factual clarity” and reaffirmed its long-term commitment to Hull and the investment made in the city.
Iron Lilies received £750,000 through the Government’s Levelling Up Fund, but this was match funding that unlocked a further £1.88 million in private investment. Together, this total investment of over £2.4 million transformed a large, long-vacant space in Princes Quay — empty for more than a decade — into a standout hospitality venue that created over 40 jobs, more than double the number originally required by the grant.
The company acknowledged that while new ventures can face challenges, the impact of recent economic changes on the hospitality industry had been severe. It highlighted the effect of wage increases, higher National Insurance costs, and the cut in Retail, Hospitality and Leisure Relief from 75% to 40%, which it said effectively more than doubled its business rates to £88,000 per year.
Combined, these measures increased operating costs by more than 30%, which the company described as “unsustainable for any business, especially hospitality.” The statement called for government intervention to address these pressures before more closures and job losses occur.
Alongside these external challenges, Iron Lilies admitted that mistakes in its product, pricing and service had contributed to a drop in trade. As a result, the business made the difficult decision to pause operations at the end of June after recording trading losses of £536,431. The company said this decision was made to protect the wider business and its hundreds of employees across the country.
During this pause, Iron Lilies worked closely with Hull City Council and the grant team to ensure that all funding requirements were paused while a reset was carried out. New senior management have since been brought in, training is underway, and preparations are being finalised for reopening in time for the busy Christmas period.
The company confirmed that the relaunch will feature a rebrand, a new menu, entertainment, improved climate control, and direct access from the dockside — part of a substantial reinvestment aimed at making the venue more accessible and appealing to a wider audience.
“Iron Lilies was never intended to be a short-term venture,” the company said. “We remain committed that with collaboration and creativity, the space can once again serve Hull’s vibrant community. We have absolutely no intention of walking away from our commitment to the people of Hull or from this level of investment.”
Back in July 2025, the business announced its temporary closure, saying:
“We’ve made the tough decision to close Iron Lilies until later in the year. The decision has not been taken lightly, after launching a fantastic concept in a luxurious setting within Princes Quay we feel we have no alternative but to revisit the concept and offering to appeal to a wider audience. We are excited to announce that we are looking to re-open the premises later in the year with a brand new and far more appealing offering for our guests. Thank you for your support, and we look forward to welcoming you back soon.”
Iron Lilies will reopen in November 2025 with what the company describes as a newer, fresher, and more affordable product.
