Owner of UK's largest fish and chips chain shuts nine restaurants
Fish and chip shop chain Deep Blue Restaurants has sold off nine of its branches. The restaurant chain parted ways with these sites between October 2024 and May 2025 in order to generate more money for another of its well-known brands.
Deep Blue Restaurants also owns Harry Ramden's, having purchased the company from Boparan Restaurant Group six years ago in 2019.
The funds from the sale of the nine Deep Blue Restaurants were used to refurbish some Harry Ramsden's locations, as well as marketing campaigns. The company has 16 Deep Blue restaurants and eight Harry Ramsden's sites, according to its website.
Deep Blue Restaurants saw its turnover fall by 2.5% to £22.9million, while its gross profit dropped 1.2% to £15.8million in the year ended 24 September 2024.
But its pre-tax losses also fell to £2.2million, down from a £3.6million loss the previous year. The group secured £5.57million debt funding between October 2024 and February 2025.
James Fleming, the group's chief executive, wrote in the latest accounts: 'As in prior years, global events, the cost of living crisis and food cost inflation continued to present headwinds to trading in the first three quarters of FY 2025.
'Despite this, performance has been robust. Looking at the sites on a like for like basis (to account for the disposal of some stores) the group is trading in line with the budget set at the start of the year.
'Continued success with the franchising and licensing of the Harry Ramsden's brand has further driven revenue and profitability across the group.
'Management continue to focus on developing this element of the business, and there have been further new contract wins into 2025.'
It comes after TGI Fridays revealed it has launched a new UK menu following a major rescue deal that was made last year. The UK operator of TGI collapsed into administration in September last year - but the brand was saved when it was acquired by private equity firms Breal Capital and Calveton UK.
However, the deal only saved 51 restaurants - meaning 35 restaurants had to shut down and around 1,000 members of staff were made redundant.
TGI - which is known for its US-themed dishes and cocktails - now has 49 restaurants and around 2,500 members of staff. In an update today, TGI said it has undergone a significant transformation since being bought out of administration in October.
TGI Fridays first opened in New York in 1965 with a party-led theme and continues to operate a string of restaurants in the US. It then opened its first restaurant in the UK in the 1980s and has been a popular destination for birthday parties and cocktail nights for the last 40 years.
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