The Hush Collection sees FY20 turnover fall to £8m
However, through a combination of tight controls, landlord rent negotiations and government support, the company said it had narrowed its EBITDA loss to £388,915 during the period
The Hush Collection has revealed that turnover for the year ending 27 December 2020 dropped 20% to £8.42m from £10.57m as a result of Covid-19 restrictions.
However, through a combination of tight controls, landlord rent negotiations and government support, the company said it had narrowed its EBITDA loss to £388,915 during the period.
Also during the period, the group launched Little Planted Kitchen, a new vegan delivery brand which has continued to operate out of 11 sites across London.
The group also made a repayment of a senior loan with HSBC out of cash flow and invested in its existing estate with refurbishments.
Meanwhile all of the restaurants have reopened in line with government guidance and have continued to have high team member retention rates.
Jamie Barber, chairman of The Hush Collection, said: “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.”