Hakkasan posts £4m loss

Hakkasan restaurant group has posted a £4m pre-tax loss for the year to 26 May 2012.

The company currently operates 13 restaurants around the world, including in the US, UK and Middle East. There are nine Hakkasans (of which two are in London), two Yauatchas (of which one is in London), and Sake No Hana and HKK, also both in London.

Sales at the business grew by £7.2m over the period, up 34% to just over £28m. However the firm made a pre-tax loss of just over £4m, largely as a result of pre-opening expenses and depreciation of assets.

Subsequent to the end of the period, the company opened Chrysan in September 2012 and HKK in December 2012, both London. However it closed Chrysan again after just six months.

There are further Hakkasans under development in Los Angeles and Shanghai, scheduled to open this year, and a Sake No Hana nightclub, which is due to open in Dubai in mid-2013.

http://www.catererandhotelkeeper.co.uk/articles/3/4/2013/348014/hakkasan-group-s-chrysan-closes-after-six-months.htm" target="_blank" rel="noreferrer">Hakkasan Group's Chrysan closes after six months >>