SOUTH West burger chain Hub Box has been severely hit by constantly rising prices and has announced a £1.256m loss. The Cornwall-headquartered company, which has large restaurants in Plymouth and Exeter, had to ask shareholders to inject nearly £500,000 into the business to get it through this winter and defer paying some of its bills.
The business has put a stop on opening any new restaurants for now and has also been stuck with an empty Devon unit it now isn’t going to turn into an eatery but still has 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 pretax loss of £1.148m, up from a loss of £282,000 the year before. The overall loss for the financial year was £1.256m.
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