Hub Box Ltd

We recently shared the news that Hub Box had gone into a process of administration in order to save the business. It was an announcement that we never wanted to make. One that we have been working tirelessly to avoid for many months. It has been a huge and difficult decision, and we would like to take a moment to explain.    The reality is that the last couple of years have been incredibly tough. As with many other companies across the hospitality industry, rising food, energy, interest rates and labour costs have put increasing pressure on our cash flow. An investment we’d made in a new location didn’t work out. Then a washout Easter. We’ve spent months getting expert advice on how to keep our heads above water and have been heart-wrenchingly close to securing investment - but it just didn’t happen. So, we had two options. The first was liquidation – closure, 300 jobs lost. The second option was to go into administration and restructure under the umbrella of a new company. This meant that we’d be able to move forward on a more sustainable financial footing, without the burden of some of our legacy debts. It meant all 10 restaurants could still trade, 300 jobs would be secured, and we’d still be here to buy from local suppliers. Our guts, hearts and heads told us that this was the path to take.     Whilst we know that this isn’t ideal, it offers the best solution to a bad situation. It means our team thankfully still have jobs, and we have been able to ensure all of our local suppliers will be paid.    Of course, this isn’t a golden bullet. We don’t take the debt owed to some of our other creditors, or the significant sums lost by our shareholders, lightly. We are truly very sorry for this.   This October, we will mark 21 years of Hub and Hub Box. For over two decades, we’ve collaborated with local businesses, supported the local economy and nurtured an amazing team. There’s been laughs, tears and more than a few lessons learnt along the way.    Thank you so much for your continued support and deepest apologies to anyone who has been impacted by the process. It is the last thing we wanted.   We love and respect our communities in all of our locations: St Ives, Falmouth, Truro, Pentewan, Exeter, Cardiff, Portsmouth, Cheltenham, Taunton and Dorchester. We are here to continue to support them with employment and great food.    Richard Boon CEO, Hub Box

We recently shared the news that Hub Box had gone into a process of administration in order to save the business. It was an announcement that we never wanted to make. One that we have been working tirelessly to avoid for many months. It has been a huge and difficult decision, and we would like to take a moment to explain.    The reality is that the last couple of years have been incredibly tough. As with many other companies across the hospitality industry, rising food, energy, interest rates and labour costs have put increasing pressure on our cash flow. An investment we’d made in a new location didn’t work out. Then a washout Easter. We’ve spent months getting expert advice on how to keep our heads above water and have been heart-wrenchingly close to securing investment - but it just didn’t happen. So, we had two options. The first was liquidation – closure, 300 jobs lost. The second option was to go into administration and restructure under the umbrella of a new company. This meant that we’d be able to move forward on a more sustainable financial footing, without the burden of some of our legacy debts. It meant all 10 restaurants could still trade, 300 jobs would be secured, and we’d still be here to buy from local suppliers. Our guts, hearts and heads told us that this was the path to take.     Whilst we know that this isn’t ideal, it offers the best solution to a bad situation. It means our team thankfully still have jobs, and we have been able to ensure all of our local suppliers will be paid.    Of course, this isn’t a golden bullet. We don’t take the debt owed to some of our other creditors, or the significant sums lost by our shareholders, lightly. We are truly very sorry for this.   This October, we will mark 21 years of Hub and Hub Box. For over two decades, we’ve collaborated with local businesses, supported the local economy and nurtured an amazing team. There’s been laughs, tears and more than a few lessons learnt along the way.    Thank you so much for your continued support and deepest apologies to anyone who has been impacted by the process. It is the last thing we wanted.   We love and respect our communities in all of our locations: St Ives, Falmouth, Truro, Pentewan, Exeter, Cardiff, Portsmouth, Cheltenham, Taunton and Dorchester. We are here to continue to support them with employment and great food.    Richard Boon CEO, Hub Box

Thanks for choosing us to host you Girls in Cornwall Business! It’s always a pleasure! If you are looking for a venue to hold an event, party or simply a get together, be sure to check us out. A number of our restaurants have large spaces, private rooms, and not forgetting exceptional food and drink! Find your closest Hub Box and drop our team a line: https://lnkd.in/gYc_UAXH

A massive welcome & kudos to our November 23 intake of Hub Box L2 Pro Chef Apprentices. The L2 Pro Chef is a co-collaboration with St Austell Brewery & Truro and Penwith College intended to create greater opportunities for our chefs to gain industry-relevant & meaningful qualifications to further their careers in hospitality. A great partnership for educating the next generation.

Last week we had a head chefs team day out to Padstow Kitchen Garden. 🌱 There's nothing like standing outside, cooking over fire and sinking a beer in the rain! Doesn't get more British than that. A top day out! 👊 It was spent learning about growing ingredients, provenance and tasting the delicious chargrilled menu of the day! Thank you so much to Ross Geach!