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Marylebone a shoal thing for Fishworks

11 August 2004

Seafood restaurant chain and fishmonger Fishworks is to open a fifth new operation in November, this time on London's Marylebone High Street.

It will be the second restaurant in the city for the group, which started in Bath as a fishmonger but has since opened restaurants in Bristol; Christchurch, Dorset; and Chiswick in London.

Its new venue, which was once occupied by the Villandry restaurant, is expected to cost £450,000-£500,000 to purchase and refurbish.

Chief executive Roy Morris said: "The Marylebone village demographics, style and existing retailers and restaurants look a perfect match for the Fishworks offering."

The group expects to have chosen two more new sites in the capital by early next year, with Islington and Chelsea as potential locations.

News of the latest acquisition came as Fishworks reported sales up by 70% to £2.5m in the year to 29 February.

However, Fishworks also reported a rise in pre-tax losses from £360,000 to £560,000, due to about £200,000 in refurbishment costs across the group's portfolio. This meant that, overall, the group lost three months' trading.

"The new, consistent style in each of the four outlets supports the brand and confirms our commitment to quality and service," said Morris. "We are in very good nick for the future."

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Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

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