FishWorks cost-cutting measures

By BigHospitality Writer

- Last updated on GMT

Related tags: Board of directors, Chairman, Fishworks

FishWorks restaurant and fishmongers has announced cost-cutting measures following its profit warning in November. Its head office in the West End has closed and moved to leased offices above its Islington restaurant, through which FishWorks expects ..

FishWorks restaurant and fishmongers has announced cost-cutting measures following its profit warning in November.

Its head office in the West End has closed and moved to leased offices above its Islington restaurant, through which FishWorks expects to save running costs of about £225,000 this year and £650,000 per year thereafter.

After buying Channel Fisheries, the group has announced that it is able to receive fresh seafood all week, allowing it to open on Mondays, which has delivered week-on-week sales increases of eight per cent in the first week.

Tony Fisher and Nicholas Stanley, joint Non-Executive Chairmen, said, "Our shortterm focus is on growing sales through marketing and additional restaurant utilisation, accompanied by stringent cost savings." The AGM is expected to be held on February 28 in Bristol. The board is still looking for a new executive chairman, after Roy Morris' resignation in December.

Related topics: Business

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