Living Ventures’ steakhouse brand Blackhouse recorded post-tax losses of £1.3m in the year before pursuing a Company Voluntary Agreement (CVA) that saw its portfolio reduced to three restaurants.
Turnover fell from £10.7m to £8.9m in the year to 30 March 2018 with the company reporting a “steep decline” in revenue at the Grill on the Alley, Manchester.
The year had seen the closure of two sites in Chester and Hale with the Grill on the Alley and London site Grill on the Market joining following the agreement of the CVA with creditors in November 2018.
The group is left with three restaurants Grill on the Corner, Glasgow; Grill on the Square, Leeds and Grill on New York Street, Manchester.
In financial documents filed with Companies House directors said they were “confident the remaining sites will trade well”.