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    RADIO ROXI TIMELESS TUNES

Sports News

Lewis Hamilton’s vegan business struggling with half of UK restaurants to close before Christmas

today22/11/2023

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Lewis Hamilton and Leonardo Di Caprio’s Neat Meat restaurant group is set to close half of its eight UK burger venues, according to reports.

The F1 driver invested in the chain back in 2019.


However, with Neat Meat seeing losses expand by roughly 140 per cent last year, action is being taken behind the scenes with the future in mind.

The chain currently has restaurants in London’s Wembley, Liverpool Street, Victoria, Canary Wharf, Oxford Circus, Stratford, Soho and Camden.

Hollywood actor Leonardo Di Caprio

Hollywood actor Leonardo Di Caprio is also an investor in the business

GETTY

Yet the meat-free group has now decided to axe the Liverpool Street, Canary Wharf, Oxford Street and Westfield Stratford sites before Christmas, according to This Is Money.

Redundancies are being lined up, with bosses warning staff the company’s future ‘is at risk’.

They have told employees it has been driven to closures as a result of soaring property rents.

The cost of living crisis and the impact of hybrid working have represented other issues, too.

Neat Meat accepts they have grown too quickly in its earlier stages and will now focus on venues ‘still delivering growth’.

A message to staff read: “Sometimes it’s necessary to take a step back to take a bigger leap forward.”

A recent Companies House report showed Neat Meat made a post-tax loss of almost £7.9million for 2022, up from £3.2m the previous year.

Neat Meat had planned to open a new venue within London’s 02 Arena.

And it has also assigned its Finsbury Park site to a third party ‘in line with our overarching strategy to focus our efforts on smaller venues in areas of high footfall’.

Yet while business has struggled, that hasn’t stopped Neat Meat from opening a new store in Milan.

They also have sites in New York, America and Mumbai, India.

On Neat Meat’s website, Hamilton shed light on his decision to create a meat-free restaurant.

“We created Neat Burger to make plant-based eating more accessible to everyone,” he said.

“Whether you eat plant-based all the time or just want to add it to your diet every now and again.

“The response to Neat Burger since we opened has been incredible.

“I’m really proud of the boundaries we have been able to push in this space and the plans for expansion are really exciting.”

And Di Caprio’s message reads: “Disrupting our food system with sustainable alternatives is one of the key ways we can make a real difference in reducing global emissions.

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Lewis Hamilton is currently preparing for this weekend’s F1 Abu Dhabi Grand Prix

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“Neat Burger’s pioneering approach to alternative-proteins is a great example of the type of solutions we need moving forward.”



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