Will Beckett, co-founder of Underdog Restaurants, the operator of Hawksmoor, the high-end steak restaurant chain and sister brand Foxlow, has said that the group’s performance this year is “on track”.
The company reported a rise in turnover from £25.5m to £28.1m in the year to the end of 2014, while underlying EBITDA climbed to £4.82m from £4.7m in a period where it only opened one new Hawksmoor in Knightsbridge.
Beckett told M&C: “We worked very hard on Foxlow last year and only had one (Hawksmoor) opening, we’ll have opened four restaurants this year and expect the numbers to reflect that.”
Earlier this month, Beckett said that the group’s acquisition of two sites from restaurateur Sam Harrison had made it “think hard about what we’re doing with Foxlow”, its neighbourhood-style restaurant format.
He said: “What we want to do is create a group of restaurants with genuine integrity. No one likes the word chain: it conjures up an image of a group of restaurants that has prioritised making money over doing what they love, which has grown too fast, and which has sacrificed originality and quality for simplicity and consistency. We think that if we prioritise the things we really care about like the best possible ingredients, great drinks and friendly service from people who love what they do we’ll have a chance of having a great company, and Foxlow will stand a chance of being well loved wherever it opens.”
The company had agreed to buy Sam’s Brasserie in Chiswick and Harrison’s in Balham from owner Harrison, subject to consultation with staff.
If all goes to plan Foxlow Chiswick will be situated at Barley Mow Centre, 11 Barley Mow Passage, W4 4PH and will have a 100-cover restaurant and 50-cover bar. It will open in October.
Foxlow Balham will be at 15-19 Bedford Hill, SW12 9EX with a 90-cover ground floor restaurant and a stand-alone 30-cover bar downstairs. It will open in November.
