Rick Stein group proposes Marlborough restaurant closure

Rick Stein Restaurants is looking into closing its Marlborough venue after the group reported a 5.4% drop in revenue for 2024.

 

A group spokesperson said: “We can confirm that we are proposing the closure of our Marlborough restaurant and are consulting with the team to explore whether this can be avoided.

 

“Our other restaurants and rooms continue to trade well, but this particular site has not delivered the same level of return.”

 

The Marlborough restaurant, which serves a Cornish fish and shellfish menu in 18th-century Grade II-listed building Lloran House, was previously under threat of closure in 2020. The 84-cover venue was saved at that time when the landlord and agent waived some rental arrears and reduced the rent by nearly 25%.

 

Rick Stein Restaurants has leased the property since 2016 when the restaurant opened.

 

Revenue across the Seafood Restaurant (Padstow) Limited & Steins Trading group of companies fell to £30.4m in the year to 31 December 2024, despite strong summer trading.

 

Revenues from accommodation grew in the period, with occupancy up 1.4% and average daily rate across all rooms up 4.5%.

 

In a statement the group said that after increased interest and bookings as a result of its 50th anniversary celebrations, it was looking to new markets in the UK and internationally, with interest from third parties in licensing agreements, following the success of Rick Stein’s licensed restaurants in Australia.

 

The family business was established by Rick and Jill Stein more than 45 years ago and includes the Seafood Restaurant in Padstow along with five other outlets in Cornwall and further restaurants in Barnes and Winchester. It employs 600 people.