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Côte to drop Jackson & Rye and Limeyard brands

09 May 2019 by
Côte to drop Jackson & Rye and Limeyard brands

Côte directors have decided to discontinue the group's Jackson and Rye and Limeyard brands due to "challenging market conditions".

The American-style Jackson and Rye brand has three restaurants; California kitchen brand Limeyard has two. While the brands continue to be traded, the directors have decided to discontinue the businesses to focus on its 93-strong portfolio of French-style Côte brasseries.

Within the financial results for the year ended 29 July 2018 filed with Companies House for Côte's parent company Taste Midco 1, director Strahan Wilson said the group had concluded "the timing is not right to expand beyond the core Côte brand".

He added: "In the light of an extremely challenging trading environment the directors are very satisfied with the performance of the business. In a year that has seen widespread closures across the sector, the directors are pleased that the main brand, Côte Restaurants, continues to deliver sales growth and remain committed to investing in opening new restaurants."

During the year the group sold one site and opened five Côte sites. The results also detailed reduced pre-tax losses of £28.3m, compared to £85.6m the previous year, as well as revenue growth of 4% to £146.4m. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were down from £19.6m to £17.9m.

Côte restaurants said to be considering closures despite ‘outperforming market' >>

Côte Restaurants' sales grow 15.8% despite ‘weakening backdrop' >>

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