Peter Thomas is the ex-husband of former Real Housewives of Atlanta star Cynthia Bailey. The restaurant and club owner’s businesses were highlighted on the show, and he had several highs and even more lows, with many questioning his business skills. Thomas recently appeared on the Season 7 premiere of The Real Housewives of Potomac to meet with Dr. Wendy Osefo about her wanting to open a Nigerian-themed lounge. Fans are warning Osefo that Thomas is not her best bet.
Osefo and Thomas talk Business
Osefo has successfully authored a memoir book and launched her candle business, all while being a professor at Johns Hopkins University and working as a political commentator. Her next goal is to open a Nigerian-themed lounge. She has no clue about the hospitality sector she reached out to Thomas for some business advice.
During their sit-down, Thomas explained that if they embark on a joint venture, Osefo would have 20% ownership of the business and suggested she put in $300K as her investment.
He also noted that she is not expected to see a return for at least 18-24 months after the business is launched. Seemingly not having access to that type of cash, Osefo told Thomas that she’d need to chat with her lawyer husband, Eddie.
Fans think going into business with Peter Thomas is a bad idea
Osefo apparently doesn’t have reservations about going into business with Thomas, but fans do. RHOA fans remember when Thomas joined the show in Season 3 alongside Bailey, the former supermodel complained that she loaned Thomas $20k to help keep his Uptown supper club afloat and never received it back. Thomas blamed the bar being shut down on the 2008 recession. The former couple weren’t sure if they’d be able to fund their wedding as a result.
He later opened his first Bar One location in Atlanta and dealt with several issues from financing to having to move locations.
That location also closed down. Since then, he’s opened locations in Charlotte, Miami, and Baltimore, which remain in business.
With so much history of having downs in business, fans warn Osefo Thomas isn’t the right partner for her.