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Vegan fast-food chain Neat Burger looks set to close four of its eight UK venues after losses grew by 140 percent last year.
Backed by F1 Driver Lewis Hamilton, Neat Burger has seen a rapid expansion since its founding in 2019. The chain has also grown internationally, with restaurants in New York, Dubai, and Milan.
In recent years, Neat Burger has launched a number of product partnerships, including a steak sandwich in collaboration with Chunk Foods.
However, faced with tough competition within the alternative meat market, the chain has seen growth stall. It has been reported that the company told employees that soaring rents, the cost of living crisis, and hybrid working patterns were all weighing on sales.
Which Neat Burger restaurants are closing?
Neat Burger currently has restaurants in eight venues across London. These are Camden, Soho, Stratford, Oxford Circus, Canary Wharf, Victoria, Liverpool Street, and Wembley.
According to reports, it is the Canary Wharf, Liverpool Street, Oxford Street, and Westfield Stratford sites that are set to be axed before Christmas.
That will leave Neat Burger with seven restaurants – four in London, as well as venues in New York, Dubai, and Milan.
Meat consumption falling
Although the closure of four Neat Burger restaurants is a blow for burger lovers in London, there are still at least 400 fully vegan establishments in the capital. In 2022, London was crowned the most vegan-friendly city in the world.
Moreover, meat consumption is falling across the UK, with 14 percent fewer animal products now being eaten than a decade ago. In that time, the number of vegan restaurants has expanded rapidly.
