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Tue 7th Oct 2025 - Exclusive: Salt Bae’s Nusr-Et sees UK business stabilise, registers £6.7m loss against two US closures |
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Exclusive – Salt Bae’s Nusr-Et sees UK business stabilise, registers £6.7m loss against two US closures: Turkish restaurateur Nusret Gökçe – also known as Salt Bae – saw operations at its UK business stabilise in the year ending 31 December 2024 but registered a £6,666,628 impairment against two restaurant closures in the US, which is a wholly owned subsidiary. Turnover at Nusr-Et London in Knightsbridge amounted to £10,068,555 or circa £194,000 a week (2023: £9,333,923 or £180,000 a week) – it was £262,000 a week in 2022 when turnover was £13,643,734. The company saw a pre-tax loss of £5,488,908 compared with a pre-tax profit of £1,685,616 the prior year following the impairment against Nusr-Et US. Post year end, the group closed its Beverly Hills, Dallas and Las Vegas sites, suggesting bigger US losses to come in 2025. The closures leave the group with two US locations, in Miami and New York City. The group, which had seven US locations in 2023, closed its restaurants in Boston and in New York City’s Meatpacking neighbourhood during 2024. The group generated an increased operating profit of £1,893,199 during the year (2023: £1,519,320). The group said: “The company continued to perform in line with the expectations in 2024 and the directors believe that the company will be able to continue to trade for the foreseeable future based on the operating profits generated during the year and management's thorough reviews on the cash flows.” Reports at the time of the restaurant’s launch in September 2021 said that a giant Tomahawk steak would cost £630, while a golden burger cost £100. Gökçe operates several restaurants in Turkey as well as sites in Dubai, Abu Dhabi and Qatar. He was dubbed Salt Bae after he sprinkled salt on a steak in a video that has gained millions of views on social media. Propel’s International Brands report features the 100 leading international brands in UK hospitality. This in-depth report explores company histories, leadership structures, site numbers and turnover figures – an essential tool for industry professionals navigating the UK hospitality market. The top 100 includes expanding brands from markets such as the US, Canada, Europe, Australia and Asia. The guide comprises two files – an introductory PDF featuring deep dives into international brands from Propel’s writers, and a fully searchable Excel sheet for easy access to key data. The report is available to Premium Club subscribers. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.
Nearly one in three people admit they need alcohol to take to the dancefloor: Nearly one in three people have admitted they need alcohol to take to the dancefloor, rising to nearly two in five of those aged 18 to 24, according to research. Older people have less shame about their “dad dancing”: fewer than one in five over-55s said they need a drink to dance. The Times reported that the findings are part of research that reveals the extent to which Britons rely on alcohol for “Dutch courage” or as a crutch to reduce social anxiety. Almost a quarter of adults said they rely on it for confidence when meeting people. Researchers said the results highlighted how alcohol was used not only for pleasure but for psychological protection – 16% of respondents said they had used it as an icebreaker during first meetings and others said they drank simply to mask shyness. The study, by Breast Cancer UK, shed light on the persistent role of peer pressure on drinking. Although a quarter of adults said they would rarely drink alcohol on their own, they found themselves regularly under pressure to do so in social situations. One in four members of Generation Z said that they felt embarrassed about refusing a drink and more than a third feared being labelled “boring” if they did so. Breast Cancer UK suggested a desire to fit in could hamper efforts to stay healthy. The charity pointed out an estimated 8% of breast cancer cases were linked to alcohol consumption, yet many people were unaware of the risks or found them easy to dismiss in the face of social obligations.
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