"Accounts filed at Companies House show SL6 Ltd recorded a loss of £2.05m for the year to 2024, up from £1.39m the previous year, despite turnover of £8.9m. Administrative expenses totalled £8.4m, including £2.3m in cost of sales, while staff costs rose to £4.07m, reflecting inflationary pressure and higher wage bills."
"The company's accounts reveal total debts of £2.7m, including £1.67m owed in taxation and social security and £5,417 in corporation tax. It also reported a bank overdraft of £806,091, more than the £697,605 held in cash, alongside several outstanding bank loans."
"A strategic report signed by Ronald Lowenthal, who now controls SL6 Ltd after Blumenthal sold his stake in 2006, acknowledged a year of 'tough economic conditions', citing inflation across the supply chain, recruitment challenges and rising wage costs."
The Fat Duck and related restaurants owned by Heston Blumenthal's former company face closure after HMRC filed a winding-up petition against SL6 Ltd. The company recorded a £2.05m loss in 2024, up from £1.39m previously, despite £8.9m in turnover. Administrative expenses reached £8.4m with staff costs at £4.07m. The company carries £2.7m in total debts, including £1.67m in tax and social security obligations, plus an £806,091 bank overdraft. Management attributed losses to inflation, recruitment challenges, and rising wages, choosing not to fully pass costs to customers. Approximately 130 staff are at risk.
#restaurant-finance #the-fat-duck #hmrc-winding-up-petition #hospitality-industry-crisis #business-insolvency
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