All the restaurant chains that have closed branches in 2024 including collapse of top chef’s business after 33 years
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IT's been a tough year for hospitality with a number of chain restaurants disappearing from the high street. Rising bills, increasing labour costs and high guest expectations have all made it a tough environment for restaurants. Those to have been lost from high streets in 2024 include TV chef Simon Rimmer's Greens, TGI Fridays and the controversial Karen's Diner.
![[A number of restaurant groups have shuttered sites in 2024]](https://www.thesun.co.uk/wp-content/uploads/2024/11/closed-cafe-due-coronavirus-pandemic-952931128.jpg?strip=all&w=960)
Craig Rachel, director at financial adviser AlixPartners, explained what had pushed businesses to close sites in 2024. He said: "Restaurants have seen the accumulation of external pressures in 2024, including rising utility costs, food prices and labour costs. Although some of these factors have stabilised over recent months, the overall impact is significant and will be exacerbated again in 2025 following the budget announcements, and this has all affected profitability.
"Some restaurant groups have been able to mitigate this to a certain extent through operational efficiencies and pricing, but consumer spending in the sector is under pressure meaning price measures are often unable to fully bridge the gap. "For some groups the cumulative impact of these factors have made certain sites unviable and we’ve seen the resulting closures.
"However, there have also been winners over the period. "There are examples of chains with differentiated offers that resonate with consumers delivering very strong performance during the year, and we have seen certain groups attracting interest from both trade and private equity investors that could drive merger and acquisition activity into 2025.".
