Lewis Hamilton and Leonardo DiCaprio-backed plant-based concept Neat Burger, which closed its remaining UK sites earlier this year, posted a £16.2m pre-tax loss in 2023 (2022: loss of £4.6m) as it said it intends that the business be placed into liquidation. Neat Burger closed its final UK sites in London’s Camden and Wembley in April.
The chain was founded in 2019 and at one point grew to eight London restaurants, plus sites in New York, Dubai and Milan. It was valued at £51m after completing a multi-million-pound funding round in 2021 and announced plans to expand to 30 sites across the capital.
However, progress stalled, and it closed four London restaurants at the end of 2023 due to a “decrease in footfall”.
The company rebranded from Neat Burger to Neat in February 2024, alongside a new menu launch, and the following month, chief operating officer Stasi Nychas stepped down. In September 2024, chief executive Zack Bishti also left the company.
In a report from the end of May 2025, the company said that “a director intends to liquidate the company”. For the year to 31 December 2023, it reported turnover of £3.5m (2022: £2.85m).
The company said it recorded a net loss of £2.7m before exceptional items for the year.
