Mediterranean eatery chain Hummus Brothers has confirmed that it has gone into administration.
The group has six sites all based in London and has been in operation for 13 years. In a statement on its website and Twitter account, the group attributed its downfall to a “perfect storm” of increased costs, reduced demand and oversupply in the market.
It also acknowledged the multiple high street brands which had recently been experiencing “tough times”. Ben Woodthorpe and Simon Harris of ReSolve Group have been appointed joint administrators.
The group said: “The combination of the pound falling after the Brexit vote which pushed up the costs of our raw ingredients as well as property rents and business rates going up ever higher, make the high street a very difficult place to operate in at this time.”
It also admitted to looking for ways to diversify from the high street such as working in canteens of large corporates and operating street food vans at festivals and markets. It said it also worked with a specialist to help it to launch a supermarket product in one of the major UK operators.
In 2017, the chain managed to raise £125,000 on the crowdfunding site Seedrs. The money was to be used to open more sites.
It concluded: “Unfortunately, despite our best efforts, the business didn’t generate enough cash to keep running until we changed course so, very reluctantly and sadly, we had to close the business. Thank you so much for 13 wonderful years of business. It has been a great and unforgettable ride.”
— Hummus Bros (@hbros) June 25, 2018