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 City AM .

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 refinancin

See Full Page