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'>>
