BOSSES of popular Southampton seafront restaurant bar La Margheritas have rubbished rumours their business is in trouble and revealed plans to launch a new venture.

Joint owner of La Margheritas Nikos Raftopoulos says "jealous rivals" are behind widespread reports the 3am Town Quay night spot is to close.

He claims thousands of people pass through the doors every week and the business is so successful he aims to launch another restaurant bar near Bedford Place within weeks called 90O at Carltons.

Mr Raftopoulos said: "We have got a lot of competitors and some of them are spreading rumours that we are closing or relocating.

"I want to say there is no problem with this business. People are jealous of the success of it. We see around 3,000 people a week on average come through the doors to eat, drink and dance."

Designed with a "London-style" bar on the ground floor, 90O at Carltons will have a 110-cover restaurant serving modern English cuisine and a cocktail bar on the second floor.

Formerly Harvey's bar on Carlton Place, landing the three storey building was the end of a five year search by Mr Raftopoulos, who thinks his new venue - due to open at the end of April - will be at the heart of a resurgent area of town.

"I believe that Bedford Place is the place to be," he said. "It always has been in the past. Back in the nineties it was, then it faded a bit and now I believe it will be back again.

"People used to say let's go to London or Bournemouth for a night out. Now I think people in London are saying lets go to Southampton.

"I have been hunting for a property in Bedford Place since January 2002. I've been waiting to find the right spot and I've done that.

"I think it will be a success. We always do what the customers want and we think we know what Southampton wants."

A Southampton institution, La Margherita was founded in Commercial Road in 1973 by former QE2 wine waiter Franco Fantini, who is a sleeping partner today.

The business moved to its current home in Town Quay, where it opens until 3am most days, eight years ago.