Rick Stein Closes Marlborough Restaurant After Struggling Sales and Rising Costs
Celebrity chef Rick Stein is closing his Marlborough restaurant this weekend. The decision comes after the business faced falling sales, rising costs, and a significant increase in business rates. The closure follows the shutdown of Stein's Coffee Shop in Padstow, Cornwall, and the widening of losses at his flagship Seafood Restaurant in Padstow.
The Marlborough restaurant will serve its last meals on Sunday, October 5. Despite the closure, customers with gift cards can still redeem them across the wider group. The family-run hospitality business has been struggling with a 5.4 per cent decline in group revenues to £30.4 million last year. Rick Stein has criticized the high business rates, which have added to the burdens on the restaurant sector. The closures highlight the fragility of Britain's restaurant and leisure sector, which is grappling with sluggish consumer spending and higher operating costs.
The Stein family has expressed their love for being part of the Marlborough community but has had to make difficult decisions to secure the future of the wider group. The closure of the Marlborough restaurant is a sign of the tough times facing the restaurant industry, with businesses struggling to cope with falling sales, rising costs, and high business rates.
