Ready for the future
Maastricht restaurant Beluga Loves You has averted imminent bankruptcy. The starred restaurant owned by chef Servais and hostess Stephanie Tielman was in dire financial straits due to setbacks caused by lockdowns, flooding and fire. The restaurant has reached an agreement with all creditors and has also reached a found new partner in Limburg-based hospitality entrepreneur Danny Deng.
Two times severe water damage due to flooding and a fire with millions in damages combined, plus lockdowns in the corona crisis caused a rollercoaster and financial problems for the Maastricht restaurant Beluga, acquired less than five years ago. Chef and owner Servais Tielman: "We had no fat on our bones yet and we couldn't bear that much bad luck. We didn't want to file for bankruptcy, because we thought Beluga was still too much worth fighting for. And we knew Beluga was viable, because turnover-wise we were doing well."

Out-of-court creditors' agreement
Servais Tielman: "In an ultimate attempt to save our business, we decided to see if we could come to a out-of-court creditors' agreement with our creditors. Unlike a Whoa procedure that goes through the courts, this allows you to be more in control. We asked all our creditors if they were willing to write off a large part of our debts. After an exciting period during which we had discussions with many of them, everyone agreed and we paid all remaining amounts as agreed. The Tax Office and the bank have also cooperated, as has the landlord who is also being proactive for the future with regard to the still existing water problem in the property. We are extremely happy that all creditors have agreed and we are very grateful for their trust and patience."
Help offered by Danny Deng
Despite the creditors' request for confidentiality, the news did leak out, followed by media publications earlier this year. Servais Tielman: "We were obviously not happy about that, but it also generated a wave of messages, expressions of support and reservations. One such message was from Limburg hospitality entrepreneur Danny Deng, who offered his help, ultimately resulting in him becoming co-owner of Beluga."
Growing through collaboration
Danny Deng was named Most Outstanding Hospitality Entrepreneur Limburg in 2016 and won the Parkstad Limburg Economy Award in 2022. He owns Wereld Restaurant Parkstad Plaza in Kerkrade, Asia Tapas and Tokyoto in Maastricht, the fusion fast-casual formula DADAWAN and is master franchiser of the bubble tea concept Möge Tee. Servais Tielman: "Danny brings a lot of entrepreneurial experience and financial knowledge and is always focused on innovation. He also brings a strong team with a lot of operational, financial and marketing knowledge. He really wants to contribute and will take much of the back office out of my hands and further streamline the organisation. I will remain responsible for day-to-day operations, but our division of tasks will give me more space to focus on the kitchen and Stephanie more on the guests. My cooking style remains unchanged and qualitatively we can grow even further through this collaboration. Because Danny has seen a lot of the world, he has gained a lot of inspiration and together we have many plans for the future."
Proud to contribute to Beluga
For Danny Deng, Beluga was no unknown territory. He came there as an enthusiastic guest, followed Servais in his career and admired his fighting spirit in all setbacks. Danny Deng: "I have great respect for Servais as a top chef, he is reputed to be reliable and I felt his pain at all the setbacks he had in recent years through no fault of his own. So it felt good that he accepted my offer of help and that it led to this partnership in Beluga in the form of co-ownership. Beluga is a different type of business than the one I have, but we can reinforce each other and besides, there is a click between us. And such a top restaurant is the Champions League, together with my team I am proud to contribute to take Beluga to the next level. By the way, I am also enormously grateful to the creditors for their support during the difficult period behind us. Without their positive contribution, we would not be standing here today."
Survival of Beluga secured
On 1 July 2024, it will be five years since Stephanie and Servais Tielman took over Beluga. After an intense period full of setbacks, the couple looks forward to a bright future. Servais Tielman: "Thanks to the patience and trust of our creditors and thanks to Danny Deng, the survival of Beluga has been secured. We are incredibly grateful for that. It is also heartwarming to see how our guests remained loyal to us after the reports earlier this year. We look forward to working with Danny to build Beluga Loves You even further and give our guests a great gastronomic experience, because at the end of the day, that's what it's all about!"