Hummus Bros has gone into administration
In a blow to the so called “hipster” generation, the chain of restaurants Hummus Brothers has gone into administration. The chain of six shops based in Soho, St Paul's, Holborn, Eastcheap, Exmouth Market and Grays Inn Road, have appointed Resolve Partners as administrators. In a letter that they posted to twitter last night they said that they have faced a perfect storm of rising costs and competition.
The firm also said that it had tried to diversify its offering over the past year to pivot away from the high street by exploring options for providing workplace pop-ups. However, the business was not able to generate enough cash to keep going.
Last year, Hummus Bros raised over £125,000 from investors on equity crowdfunding site Seedrs at a valuation of £9m.