Barbecuerestaurant chain Red's True Barbecue has closed its only London-based restaurant due to "challenging market forces".
The company, which won the Newcomer Award at the 2014 Cateys and Best Marketing Campaign at the 2016 Cateys, announced the closure of its 150-cover site at 52-54 Great Eastern Street in Shoreditch on its website today.
A statement explained that the brand's original strategy to grow a presence in London had proved untenable despite its Shoreditch restaurant remaining profitable.
It continued: "Our heartland, operational and brand strength remains solid in the midlands, north, north east and north west and so we will continue to consolidate our efforts in the regions."
Red's True Barbecue was founded in Leeds in 2012 by Scott Munro and James Douglas.
In May 2015, the group secured £5m debt funding and equity investment to help accelerate its expansion. It also appointed Ian Neill, Jamie Barber (Cabana), Stephen Wall (Pho), Brandon Stephens (Tortilla), Maurice Abboudi (K10), Dom Lake (Canteen), and retail entrepreneurs Aarish Patel and Sunny Gill to aid the London expansion.
In December 2015, Red's secured a further £9m investment and announced plans to open 8-10 more smokehouses before the end of 2017.
The group now runs seven restaurants in Liverpool, Newcastle, Sheffield, Leeds, Manchester and Nottingham.
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