Financially Distressed Restaurants

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Financially Distressed Restaurants

The information on the restaurants that are about to collapse in West Sussex, Surrey, and Hampshire is not publicly available. Some of the restaurants that are currently for sale in those areas are The Long House Cafe, London House Restaurant, and a surf and turf restaurant in Lyndhurst, Hampshire. Wacaha, Frankie & Benny's, and Ask Italian are some of the chains that have recently closed or may close their locations in West Sussex, Surrey, or Hampshire.

Helpful Findings

  • According to the research, the only reliable way to identify restaurants for sale in the UK is through relevant listings of businesses for sale. The prices start at $5,000, though the restaurants in the requested counties tend to be more pricey.
  • The Long House Cafe, a vegetarian/vegan restaurant located in Brighton, West Sussex, UK is currently for sale for £49,995. Its turnover is £91,000, and net profit is £30,000. The broker can be contacted through this website.
  • London House Restaurant is a fine dining restaurant located in West Byfleet, Surrey, UK. It is currently for sale for £85,000. Its turnover is £400,000, and net profit is £50,000. The broker can be contacted through this website.
  • A surf and turf restaurant in Lyndhurst, Hampshire, UK, is listed for sale at a price of £124,990. The turnover is £224,000. The broker can be contacted through this website.

Other Findings

  • 72% of restaurants and pubs in the UK fear they will be forced to close permanently as a result of the pandemic.
  • It is easier to track restaurant closures in London compared to the rest of the UK, though the financial details are rarely provided. However, the information is still mostly limited to locations that have already closed.
  • The restaurants that have been closed most recently in London include Street Xo, Roganic, and Roux at Parliament Square.
  • Wacaha, a Mexican restaurant chain, has decided to close 10 of its restaurants, which account for one-third of its locations. The list includes one restaurant in Southampton.
  • It is possible that Frankie & Benny's locations in Surrey will not reopen. Their owner, The Restaurant Group, was forced to restructure its business and close multiple restaurants.
  • Ask Italian is another chain that was forced to shut down many of its locations, including the one in Crawley.
  • The restaurant was located at 49/51 High Street, Crawley, West Sussex, RH10 1BQ.
  • Here are the lists of restaurants that are currently for sale in West Sussex,

Research Strategy

We started our research by searching local media sites such as Get Surrey or West Sussex County Times. However, while all those sites include a lot of articles on how the pandemic impacts the restaurant industry in the UK, they don't provide information on which restaurants in those counties are about to close unless they are part of large chains that plan to close a number of locations. They mostly cover topics such as famous chefs struggling to keep their restaurants, large chains being in financial trouble, changing restrictions, and specific incidents such as fines for violating the lockdown rules. They also mention innovative ways in which owners adapted to the restrictions. After expanding to local and national media sites across the entire UK, we also didn't find any relevant examples. If specific standalone restaurants are mentioned, it is usually after they were forced to close and auctioned or very close to the auction date.

Additionally, we identified the largest cities and towns in each of the counties, including Southampton, Crawley, and Guildford. However, even for cities such as Southampton, it was impossible to identify restaurants that fit the required criteria. We also tried to identify reports and surveys by the government or industry associations, hoping that their overviews would mention any relevant examples. However, such information was not available.

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