Patty & Bun remains committed to national expansion, citing its strong brand and robust finances as putting it in a strong position to capitalise on opportunities for sites.

Founder Joe Grossman said despite the strong competition, the burger restaurant concept was well placed to secure the best available restaurant space.

He was writing in Patty & Bun’s full year financial report for 2019, which saw the company post a loss of £270,277.

This followed the temporary closure of Liverpool Street for a landlord refurbishment, with no further sites opened last year.

Sales decreased by 6.6%, despite a strong underlying performance, for the same reasons.

Operating profit before deductions was £275,748, while the company invested £566,459 on refurbishments in 2019. Stree

Patty & Bun has reopened eight out of 10 restaurants, with Goodge St and Kingly St yet to reopen.

The company made use of furlough scheme and business interruption loan from via Barclay’s.

It is negotiating with landlords on concessions, including rent free periods, deferments and a move to monthly arrears.

During the shutdown it launched Lockdown DIY Patty kits, as well as a new delivery brand Sidechick.

In August 2020, the company issued 3.6m A ordinary shares at £1 each at par in settlement of the liability due to its parent company Patty & Bun Holdings.

Grossman wrote: “The directors remain cautiously optimistic for the future. The current climate will remain difficult for the hospitality sector. However the directors believe that Patty & Bun is well places to tackle future challenges.”