Kavalke, Gordon Ramsay’s restaurant group holding company today announced plans to close Maze, one of the groups star brands in London, Mayfair.
The group owns many of London’s best-known restaurants including Savoy Grill, Bread Street Kitchen and Petrus, reported a loss of £3.8m in the most recent trading report to end August 2017.
More bullish news is that the group also plan to open five new restaurants overseas.
One of the key factors effecting the group was a £1.75m bill for legal costs during the reporting period, for ongoing legal costs stemming from the quarrel with Rowan Seibel.
Siebel was Ramsay’s former business partner in their Los Angeles restaurant Fat Cow shut in 2014.
The five-month closure of Ramsay’s Plane Food in Heathrow’s Terminal 5 also hit group performance.
Kavalke has only reported a profit once since 2012, the latest report shows UK revenues down, but international operations report seeing increased licensing revenues of £5.4m up 52%.