Heston Blumenthal’s losses doubled over the past year – is The Fat Duck safe?

The  Staff Canteen

The Staff Canteen

Editor 9th April 2019

Michelin starred Heston Blumenthal is the latest of the UK’s famed chefs to report major losses for 2018.

A decline in profitability for Snail Porridge Limited, parent company of the three Michelin-starred restaurant, the Fat Duck, as well as the one Michelin star Hinds Head pub in Berkshire and several of the Michelin-starred chefs’ other business arms, The Observer reported, was to blame for a million pound post-tax loss declared for 2018. 

And the problem isn’t just Heston’s: the number of restaurants having filed for insolvency is said to have almost doubled in the past eight years.

Costs associated with Brexit, rising food prices – a problem exacerbated by the use of high-value ingredients in fine dining restaurants - and national living wage increases were cited in the group’s accounts.

Earlier this year, the chef was caught up in controversy as it emerged that his international restaurant group, Cape Proprietary Inc, utilises several Caribbean and European tax havens – namely, the Island of Nevis – to minimise corporation tax bills.

The news that the company’s pre-tax profits dropped by 235,357 in the past year cast some light on why the company may have turned to such measures, though it remains a matter of contention.

The Staff Canteen contacted The Fat Duck for comment but received no response.

In these challenging times…

…the hospitality landscape has dramatically changed in the last two months, and with that our advertising revenues have all but expired, significantly impacting our business. Despite having to furlough a large portion of our staff, we are still delivering the valuable content and honest information, which hundreds of thousands of you come to The Staff Canteen for. We believe we have a critical role to play in informing and supporting our audience. We need your support right now, more than ever, to keep The Staff Canteen active. Without your financial contributions this would not be possible.

Over the last 12 years, The Staff Canteen has built what has become the go-to platform for chefs and hospitality professionals. As members and visitors, your daily support has made The Staff Canteen what it is today. Our features and videos from the world’s biggest name chefs, are something we are proud of. We have over 500,000 followers across Facebook, Twitter, Instagram, YouTube and other social channels, each connecting with chefs across the world. Our editorial and social media team are creating and delivering engaging content every day, to support you and the whole sector.

Your financial support means we remain independent and open to all. We were launched by a chef and remain the voice of chefs and other hospitality professionals.

We need your support to keep delivering the products and content that you love, giving you the platform to share opinions and inspiration. Every contribution whether big or small, means so much.
Support The Staff Canteen from as little as £1 today. Thank you

The  Staff Canteen

The Staff Canteen

Editor 9th April 2019

Heston Blumenthal’s losses doubled over the past year – is The Fat Duck safe?