Vegan restaurant chain Neat Burger has officially closed its remaining UK restaurants after experiencing major financial losses.
Neat Burger opened in 2019 and originally planned to open 30 sites across London, with an initial value of £51 million following a multi-million-pound funding round. The chain was famously backed by Formula 1 driver Lewis Hamilton and Oscar-winning actor Leonardo Di Caprio, who invested in the company early on.
However, plans have since gone south for the plant-based company, as the demand for vegan food has slowed in recent years and cost-of-living pressures continue to mount. In 2022, it reported a loss of £7.8 million, up from £3.2m the year before, and in 2023 the group shut four of its London restaurants due to a ‘decrease in footfall.’
The brand originally specialised in plant-based fast food such as burgers and nuggets, but has diversified its offering over the years in response to changes in eating habits. In 2024, it announced it would be introducing ‘healthier’ items to its menu, such as salads and sandwiches, although this didn't seemed to have the profit-boosting effect it hoped for.
Diversifying the menu was just one of the actions the brand implemented to keep the business afloat. In a letter to shareholders from Neat Burger’s co-founder Tommaso Chiabara, he explained that the company was doing everything it can to make it 'financially viable in challenging market conditions'.
It has now closed its remaining sites in Camden and Wembley which is expected to spark the loss of 150 jobs.
At one point, Neat Burger had a site in New York, although that has also sadly closed following major monthly losses. It now has two remaining outlets in Milan.
A spokesperson has commented on the chain's closure: ‘We have no further comment at this time, other than to confirm that the business has taken the difficult decision to close its UK restaurants.’
We've recorded all the restaurant closures in London this year, but in brighter news, there are plenty of hot new London restaurant openings to keep track of as well.