In a press statement, the group said the increasing costs of running the pub had not been matched by a rise in revenue and turnover and so it was taking the opportunity to ‘regroup, rethink and rebuild’.
“The team has worked hard to make the concept work, but nothing is a given in the challenging climate hospitality businesses now face,” the statement reads.
There are hints Kerridge is planning a new London venture, with the press statement going on to say that the group ‘remains confident it can learn from experiences in Chelsea and adapt to create something great’.
It adds that the future of team members working at the pub is ‘secure, in place for what’s next’.
However, it is not known if this refers to the group launching a new site or overhauling the one in Chelsea.
When Restaurant asked for clarity as to whether the group was planning on retaining The Butcher’s Tap site, the group refused to comment, adding that further details would be unveiled soon.
The Butcher’s Tap and Grill Chelsea launched in late 2023 and was a spinoff of The Butcher’s Tap in Marlow, serving a ‘British centric’ food menu of butcher-cuts, burgers, hot dogs and small bites alongside a rotating roster of drinks including London craft beers and new world wines.
Kerridge has long been a high-profile voice for the cost pressures and challenges facing the hospitality sector.
Speaking to Restaurant around the time of the Chelsea launch, he described himself as feeling responsible for representing his industry when it’s under pressure.
“Every time I talk about energy prices going up 400%, or vegetable oil going up 200%, if someone begins to understand it and why their local takeaway has had to raise their prices then that’s great,” Kerridge said.
“It helps give a voice to those who don’t have one.”
Kerridge’s restaurant estate is primarily based in Marlow, where he opened his now two Michelin starred flagship restaurant The Hand and Flowers back in 2005.
The chef opened his first London restaurant, Kerridge’s Bar and Grill, in the Corinthia London hotel back in 2018.
He launched a second outpost in the capital in 2021 – a gourmet fish and chips restaurant located within Harrods Dining Hall.
The Butcher’s Tap and Grill Chelsea will hold its final service on Sunday 1 June.