The Stein Group, founded and co-owned by chef Rick Stein, is looking to open its first central London restaurant following an increase in profits across its ten restaurants.
Known for its seafood spots across the south of the country, the group currently operates six restaurants in Cornwall, including the legendary Seafood Restaurant in Padstow which opened back in 1975, with others in Marlborough, Sandbanks and Winchester. In 2016, the group opened another restaurant in Barnes, on the outskirts of London, but this new opening will be located more centrally.
The news comes following an uptick in profits in 2023, reporting a 106% increase. Despite struggling through the pandemic, and posting a £1m loss back in 2022, it seems that things have turned around for the hospitality group who are one of the largest private sector employees in Cornwall, with around 650 employees.
Managing director, Ian Fitzgerald, commented: ‘Whilst the hospitality industry continued to face its fair share of challenges during 2023, we enjoyed a successful summer season and improved results in a number of our restaurants.
‘Having reorganised our finances and driven efficiencies throughout the business we are now exploring expansion opportunities’.
Almost 50 years after the launch of his first seafood restaurant, the announcement comes in anticipation of this milestone anniversary.
Charlie Stein, son and shareholder executive director, said: ‘Our focus in the next few months is on maximising the opportunities to celebrate the 50th year anniversary of the business in 2025.
‘It is also the perfect time to evolve our restaurant concepts to appeal to a wider audience and we are actively looking to open our first site in central London.’
No further information has currently been announced with regards to the location or the name for the restaurant, though we feel pretty safe in assuming that it will be seafood focused.
In other news, Jeremy Clarkson reveals the name and opening date of his new pub.