Côte restaurants said to be considering closures despite ‘outperforming market'

08 May 2018 by
Côte restaurants said to be considering closures despite ‘outperforming market'

Côte restaurants is reported to be considering site closures, despite saying it was continuing to "outperform the market" in results posted to Companies House last week.

Sources told Sky News the company was evaluating a number of sites trading under the Limeyard and Jackson + Rye brands.

Tough conditions on the casual dining sector have seen a number of groups scale back their portfolios or even seek Company Voluntary Agreements to reduce financial obligations.

In its latest financial results French brasserie and bistro chain Côte said that the group has weathered the downturn well reporting an increase in sales of 15.8% in the year to 30 July 2017 despite a "weakening backdrop".

The firm revealed that sales grew to £140.7m across its 94 restaurants, up from £121.5m the year before.

Like-for-like sales were up 4.1% over the period, with pre-tax profit flat at £10m.

Within the results, director Strahan Wilson said: "As Côte enters its 10th year, we remain confident that the brand remains incredibly strong and despite these challenges we will continue to invest in opening new restaurants."

Côte Brasserie closed its Lincoln site suddenly in April, after two years trading at the location. In January a restaurant in Hale, Greater Manchester, had been similarly closed.

The Caterer has contacted Côte restaurants for comment.

Côte Restaurants' sales grow 15.8% despite ‘weakening backdrop'>>

Côte closes Lincoln restaurant>>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking