Tom Kerridge, the celebrated Michelin-starred chef behind six restaurant sites, has candidly admitted to facing financial difficulties, including significant losses at one of his locations. Despite his culinary accolades and public success, Kerridge revealed the tough economic realities of running a restaurant business today.
In an interview, Kerridge disclosed that while three of his establishments generate modest profits, two just break even, and one is currently losing a substantial amount of money. He described the ongoing effort as a “constant battle of spinning plates,” where funds are shuffled strategically to ensure all venues continue operating.
The Hand and Flowers, Kerridge’s two-Michelin-star pub, and The Coach, holding one Michelin star, are part of this complex portfolio. The chef’s experience highlights how even renowned names in the hospitality industry must navigate financial pressures behind the scenes.
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Jamie May, executive chef and butcher at Tom’s Butcher’s Tap and Grill in Marlow, Buckinghamshire, echoed the sentiment, describing daily operations as preparing “like I’m going into war,” a reflection of the challenging environment restaurant staff face.
Kerridge has been vocal about the broader issues impacting the industry, including rising food costs for staples such as olive oil and eggs, escalating energy bills, business rates, and substantial VAT charges. Writing for the Guardian earlier in 2024, he underscored that these factors contribute heavily to the closure of many restaurants.
Following the recent Labour government takeover, Kerridge rated them “six out of 10,” criticizing the new National Insurance hike as “slightly ill thought out,” signaling ongoing concerns about government policies affecting the hospitality sector.
On a lighter note, Kerridge recently shared tips for perfect barbecuing, emphasizing the importance of choosing larger charcoal pieces for better heat retention, which cooks food more evenly and lasts longer. He also recommended making homemade burgers with lean mince, adding seasoning after shaping, and slow-cooking certain meats to blend roasting with smoky barbecue flavors.
Kerridge’s honesty sheds light on the less glamorous side of running a multi-site restaurant empire and the resilience required to keep the business afloat amid a turbulent market.