Nusret UK, which is named after the Turkish chef, whose real name is Nusret Gökçe, reported that turnover at its London steakhouse rose to just over £10m for the period ended 31 December 2024, up from £9.3m in 2023, and that operating profit rose to £1.9m, up from £1.5m the previous year
However, the company made a loss of £5.5m compared with a profit of £1.7m the previous year. This drop in profitability was caused by £6.6m ‘exceptional expenses’, according to accounts filed on Companies House, relating to the group’s US arm, which closed two restaurants in Boston and New York’s Meatpacking district in 2024. Because the US arm is a fully-owned subsidiary of the UK company, the write-off contributed to the loss in the company’s UK accounts.
The business also reported an EBITDA of £1.87m, down from £2.2m the previous year.
Gökçe opened his Nusr-Et London restaurant at the Park Tower Knightsbridge hotel in 2021 as part of global expansion for the brand. In 2022 the restaurant reported a turnover of £13.6m, falling to £9.3m in 2023.
More recently he has closed restaurants in the US, where the company now operates only two sites following closures in Dallas, Las Vegas, Boston, New York, and Beverly Hills.
It still operates restaurants in the US in New York’s Midtown and Miami and the international group has sites across Turkey and the Middle East.