Rick Stein Restaurants is considering closing its Marlborough location following a 5.4% revenue decline in 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, located in the 18th-century Grade II-listed Lloran House, offers a Cornish fish and shellfish menu. The 84-cover venue previously faced closure in 2020 but was saved when the landlord and agent waived some rental arrears and reduced the rent by nearly 25%.
Rick Stein Restaurants has leased the property since it opened in 2016.
Revenue across the Seafood Restaurant (Padstow) Limited and Steins Trading group of companies fell to £30.4 million in the year ending 31 December 2024, despite strong summer trading.
Revenue from accommodation increased during the period, with occupancy rising 1.4% and the average daily rate across all rooms up 4.5%.
In a statement, the group said that following heightened interest and bookings linked to its 50th-anniversary celebrations, it is exploring new markets in the UK and abroad. The company also noted growing third-party interest in licensing agreements, building on the success of Rick Stein’s licensed restaurants in Australia.
The family business, founded by Rick and Jill Stein more than 45 years ago, includes the Seafood Restaurant in Padstow, five additional outlets in Cornwall, and further restaurants in Barnes and Winchester. The company employs around 600 people.
