Burger & Lobster reveals return to expansion
Burger & Lobster has announced plans to grow the brand with a strong pipeline of sites in place, both in the UK and internationally, including a tenth London restaurant to be announced at the start of next year.
The group revealed its financial results for the year ending 3 January 2021, in which it started the financial year in a strong position with net assets of £3.3m. However, turnover fell by 65% in 2020 to £16.3m as the Covid-19 pandemic curtailed operations.
By May 2020, the restaurant group launched a delivery service, opening three dark kitchens to increase brand reach, and nationwide DIY kits, accounting for sales of £650,000.
Despite a challenging year, the group said its week-on-week sales "continue to increase", and the business was "well-positioned for expansion".
Misha Zelman, director and founder of Burger & Lobster, said: "We are delighted to be celebrating our 10th anniversary next month, having reopened all our restaurants and experiencing high demand. It has been an incredibly challenging 18 months for hospitality. Still, we are immensely proud to have retained so many members of our team post furlough and would also like to take this opportunity to thank our landlords for their support during the pandemic.
"The business has shown resilience and adaptability, giving us the confidence to open more sites both here in the UK and overseas. As we continue to develop and innovate, we are confident that our unique brand proposition will continue to engage with diners."
Significant losses in 2015 led to a restructuring and change in management, and all regional UK venues including in Cardiff, Manchester and Bath closed.
