Upmarket steak restaurant chain Hawksmoor has slipped into losses despite achieving a significant milestone of surpassing £100m in sales for the first time.
The London-based group posted a pre-tax deficit of £1.6m for 2024, a reversal from the £1.4m pre-tax surplus it delivered in 2023.
Fresh filings lodged with Companies House reveal that revenue climbed from £89.7m to £100.3m over the corresponding timeframe, as reported by .
Directors stated in their report: "With regards to the balance sheet, the material movements in the year relate to fixed asset additions of £7.9m, the majority of which related to the opening of a new site in Chicago, USA, and a movement of the external bank debt from creditors due within one year to creditors due after one year following the refinancing in June 2024.
"Post year-end, Hawksmoor has not signed to open any new locations, however, several further new site locations in both the United States and United Kingdom are under consideration for opening in 2026 and beyond."
Private equity house Graphite Capital, which holds the controlling interest in Hawksmoor, launched a sales process for the business in July 2024, though no transaction has yet been confirmed.
Graphite Capital has maintained a 51 per cent shareholding in the chain, established in 2006, since acquiring its stake in 2013.
Hawksmoor was launched by chief executive Will Beckett and Huw Gott, who retain minority holdings in the venture. In addition to its seven London establishments, Hawksmoor also operates restaurants in Edinburgh, Liverpool, Manchester, Dublin, New York and Chicago.
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