Turtle Bay closed two UK sites at the tail of its estate for the “foreseeable future”, which became inviable due to covid-19.

As well as closing the undisclosed sites, the Caribbean bar and kitchen brand made redundancies in its support centre a result of the crisis.

Meanwhile the company placed its German into administration, permanently closing two sites, and resulting in a non-cash impairment charge of £1.9m.

The news was revealed in a full year financial accounts up to February 2020.

The group achieved like for like sales growth of 1.1% in 2020, resulting in UK adjusted EBITDA of £5.7m.

Total sales were down 14%, driven by the closure of one site in Huddersfield.

The group made a £800,000 profit before tax, though once adjusted for non-recurring items, less before tax was £6.3m.

Turtle Bay paid down a further £4.2m of its bank term loan, while reinvesting £1m into its estate through refurbishments.

Major projects were completed in Ealing, Birmingham, Leicester, and Cardiff.

The company’s cash generation enable to refinance its bank facility with a new three-year facility, including additional finance through the Coronavirus Large Business Interruption Loan Scheme (CLBILS).

Shareholders injected a further £500,000 into the business, giving it a new asset position of £3.3m.