A NEWPORT independent cocktail bar has said the city centre is "imploding" as it closes its doors for good just seven months after it opened.

Cosmo's Cocktail Bar has opened in the site of the short-lived Karen's Diner in Friars Walk in August 2023 and permanently closed on March 27, 2024.

During the weekends, the bar held live music from local artists and bands.

The cocktail bar which aimed to be the "number one place to catch up with friends, family and workmates" in the city put their closure down to “significantly reduced footfall, increased costs, rising business rates.”

The independent business “accepted the reality of the situation that the business is no longer financially viable” and thanked customers for their “support” adding that they have had a “blast.”

All reservations made at the bar have been cancelled.

Newport has faced a string of closures with both Tiny Rebel and Bar Amber closing on High Street last month, March 2024. 

Tiny Rebel also put their closure down to "decreasing footfall and rising operating costs", adding that the city centre "has been slowly imploding."

South Wales Argus: Cosmo's permanently closed on March 27, 2024Cosmo's permanently closed on March 27, 2024 (Image: Cosmo's)

A spokesperson for Cosmos said: “The hospitality industry as a whole is currently facing unprecedented times.

“Over the past few months, we have worked tirelessly to keep the business financially viable, however, as a result of significantly reduced footfall, increased costs, rising business rates and a lack of support from the Welsh government towards the hospitality industry, we have to accept the reality of the situation, that the business is no longer financially viable.

“Our ambition was to bring an exciting and independently run space to Newport City Centre, however, it is evident that the imploding closures across the entire city points to a huge gap in the authorities understanding of the need and protection towards this important sector.

“As a result, there was sadly no other way forward.

“We would like to thank you for your custom and support, we've had a blast.”

While the loss of Cosmos is a blow to Newport and Friars Walk, there has been some positive news in the wake of the announcement that Pierre's will be returning to the shopping precinct in May.

Pierre’s will open on May 2, in the same unit where it closed in 2022.

The all-day diner is designed to be the “ultimate socialising venue” with a good value menu offering, coffee, cocktails, small plates and sharing dishes.

The new offering is linked to national restaurant brand Bistrot Pierre.