South West burger chain Hub Box is to close one of its Devon restaurants less than two years after opening it as it works to find staff other jobs in its other remaining eateries.
Plymouth’s Royal William Yard branch will shut, the Cornwall-headquartered company has announced on social media. The outlet, rebranded as just Hub last year, will cease trading after Sunday, April 7, saying the venue didn’t work as it “wasn’t Hub Box’y enough”.
The business said it was trying to find staff other jobs within the chain’s remaining restaurants or in other establishments at the Royal William Yard. The closure comes just months after the chain announced a £1.256m loss but in its post Hub Box said the chain was not in peril and even had expansion plans.
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The company has been approached for comment. The loss of the restaurant, in the Grade I listed Melville block, will also come as a further blow for Royal William Yard developer Urban Splash, which has yet to fill units emptied when Prezzo and The Club House restaurants shut, and last month abandoned plans to redevelop Plymouth’s Civic Centre.
In its post on social media, Hub Box said: “It is with a heavy heart that we announce the closure of our Plymouth restaurant in Royal William Yard, our last day being Sunday, April 7. Our main priority is of course, our team – supporting their transition to other roles within Hub Box and and/or seeking roles with our neighbours in the yard.
“We can’t thank them enough for all their hard work, energy, and commitment to Hub Box over the past two years. We also want to thank you, our customers, for all your support. Closing our doors is bittersweet, but we know now that it wasn’t for us. It just wasn’t Hub Box’y enough.”
The post added: “Onwards and upwards. We hope to see you in our other restaurants if you’re nearby. Contrary to anything you may hear or read... Hub Box is here to stay, and we’re stoked to be doubling down on our expansion plans over the next few years.”
The announcement was met with astonishment on social media. Joanna Tasker wrote: “Oh no. This is such a loss. Does the best burgers we’ve ever had.”
Jessica Turner posted: “The RWY location never did feel like Hub box. I hope you can come back to Plymouth in a venue that suits and celebrates the brand.” Caroline Rose wrote: “Oh no, gutted you’re leaving RWY.”
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Hub Box opened in the 3,400sq ft unit in the Melville building in May 2022 after relocating from Old Town Street in the city centre, where it opened in 2017. Several posts on social media begged the company to consider moving back into that area.
In January the company said it had been severely hit by constantly rising prices and announced a £1.256m loss. The firm had to ask shareholders to inject nearly £500,000 into the business to get it through this winter and deferred paying some of its bills.
The business also said it had put a stop on opening any new restaurants for now after having been stuck with an empty Devon unit it abandoned plans to turn into an eatery but still had to pay rent on. However, Hub Box Ltd’s annual report and financial statements for 2022 revealed the restaurants remain popular and turnover rose to £14.88m from £12.32m in 2021.
But the company made a pre-tax loss of £1.148m, up from a loss of £282,000 the year before. The overall loss for the financial year was £1.256m.
Writing in the annual report, director Christian Hugo, said that despite difficult trading conditions and inflation, sales grew in 2022. But after a strong start to the year the company was then battered by VAT changes and price hikes caused by the war in Ukraine.
When Hub Box opened its new restaurants in the Royal William Yard and in Dorchester that year, both were hit by rising construction costs. Electricity bills also went up in October 2022 and no new sites have been opened since that month, and cuts had to be made at the head office in Truro.
But directors were confident the business would continue throughout 2024. Hub Box has 10 other restaurants, in Cardiff, Cheltenham, Dorchester, Exeter, Falmouth, Pentewan, Portsmouth, St Ives, Taunton and Truro.
