Côte brasserie posts £46.1m loss

French brasserie brand Côte posted a loss before tax of £46.1m in its latest results, up from a £16.8m loss the prior year.

According to filings for Côte Restaurant Group on Companies House, for the period ended 29 September 2024, the chain was hit with an EBITDA (earnings before interest, tax, depreciation and amortisation) loss of £5.5m as a result of “relatively flat” gross profit margins and ongoing operating expenses.

Exceptional costs had also increased to £32.6m from just £2m the prior year due to the full impairment of historic goodwill, brand and other intangibles that resulted from the acquisition of the trade and assets of the business back in September 2020, the group said.

Despite achieving like-for-like sales growth of 4.1% and revenues of £151.7m, an increase of 2.8% from 2023, losses widened across the group to £46.1m.

During the period, the business also disposed of seven sites and invested £8.7m in the refurbishment of eight restaurants.

The directors acknowledged the company operates in a “fiercely competitive sector” and said consistency and quality of service was “paramount”.

They also stated the restaurant estate had been impacted by “squeezed consumer confidence and spending throughout 2025” as a result of the 2024 Autumn Budget.

In October last year, Côte was sold to the Karali Group, which injected £3.4m of working capital into the business, according to Companies House filings.

The directors said the sale “removed significant cost from the business” through a headcount reduction in support office and a review of all operating costs and processes.

They added new ownership was sought to reposition Côte as a “more accessible” brand and expand its presence in the delivery market with its Côte at Home offering.

Partners Group had acquired Côte out of administration for £55m at the height of the pandemic in 2020 when it had nearly 100 sites. The chain now trades from around 70 UK restaurants.

Côte was founded in 2007, with its first site opening in London’s Wimbledon.

Earlier this week, it was announced chief executive Emma Dinnis, who joined Côte Brasserie last year, had departed the business with immediate effect after less than 12 months at the helm.