The Hush Collection, the London-based restaurant group consisting of Hush Mayfair, Cabana and Haché led by Jamie Barber and Ed Standring, today announces its financial results for the year ending 27 December 2020. The Collection also reports on a positive current trading update and expansion plans.
PERIOD ENDING 27 DECEMBER 2020
2020 was an extraordinary year for the group with the restaurants experiencing a significant Covid-19 slowdown from the middle of February 2020 followed by the first national lockdown in March and numerous tiered restrictions.
Despite long periods of closure and restricted trading, turnover reached £8.42 million (2019: 10.57m) just 20% down on the previous year.
A combination of tight controls, landlord negotiations and government support mitigated the Collection’s EBITDA loss to just £388,915 (2019: £645, 283).
This result is attributable to the Collection’s agility with key highlights including:
- Keeping the Haché business trading throughout the year. Pivoting to delivery and take-away resulted in a five-fold increase in sales, propelling some of the restaurants into like-for-like growth.
- The ‘Feed Our Front Line’ campaign, co-founded by Hush Collection’s CEO, Ed Standring, pioneered the feeding of the NHS during the first waves of the pandemic and generated significant loyalty and goodwill for the brands.
- Little Planted Kitchen, new premium delivery vegan delivery brand was developed, launched, and continues to operate out of 11 sites across London.
Despite further lockdowns and current restrictions, The Hush Collection has continued to trade well and beyond expectation throughout 2021.
- The opening in August 2021 of the first international franchised Cabana in Riyadh with a second site in the pipeline. Further international expansion planned across the Middle East in the coming years.
- Little Planted Kitchen has been further developed ready to launch in time for Veganuary 2022.
- Repayment of senior loan with HSBC out of cashflow and investment into existing estate to modernise and sparkle.
- All London restaurants have reopened in line with government guidance and the group enjoys high team member retention rates with the restaurants well-staffed.
Jamie Barber, Chairman of The Hush Collection, commented: “It has been an incredibly challenging time for hospitality, but we are immensely proud of our performance. The business has shown agility and adaptability and these results are a testament to that as well as our loyal team. Our restaurants have traded well this year and beyond expectations. As such, we are well-placed to ride any additional pandemic headwinds.”