The Gordon Ramsay Restaurant Group will close its high-profile sushi-and-grills Mayfair restaurant Maze next year, and open a new “concept restaurant” in its place, following a reported a £3.8 million loss by holding company Kavalake.
Holding company Kavalake, which includes London restaurants such as Petrus, Savoy Grill, Maze and Bread Street Kitchen has reported a pre-tax loss of £3.8m in the year to the end of August 2017, although international revenue rose 52 percent year on year to £5.4m, contributing to a group-wide increase in gross profit, despite falling turnovers.
The group has confirmed that it will close Maze in Mayfair, which lost its Michelin star in 2
015, and operates inside the London Marriott hotel in Grosvenor Square, when its lease runs out in January 2019, after 14 years in business.
It will, however, be replaced with a new concept restaurant launching in 2019 under a new 10-year lease, as stated by Kavalake’s report, filed to Companies House this week.
A further five new venues will be opened overseas. These include a Bread Street Kitchen in Sanya, China, and four other restaurants in North America, including a new concept in Las Vegas called Hell’s Kitchen, which opened in January.
“A number of new international contracts are being actively negotiated, however, contracts have yet to be signed,” the group said. “The global spread of our restaurants means the business is not reliant upon one location and is therefore well placed to adapt and adjust to softer trading conditions.”