Major update on beloved steakhouse chain's collapse as administrators reveal future of at-risk restaurant
HIGH STEAKS Major update on beloved steakhouse chain's collapse as administrators reveal future of at-risk restaurant
A BELOVED steakhouse chain that fell into administration will now keep one of its restaurants open, it has emerged.
Steak of the Art, which combines a steak restaurant with an art gallery, was set to close its two sites after going bust last month.
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Steak of the Art in Bristol has remained open and still takes bookings
Credit: Google Maps
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The Cardiff site has been closed
Credit: Google Maps
It had one restaurant in Cardiff which has been closed - but administrators revealed that the other site in Bristol has now been saved from being shut after being sold, The Caterer reports.
The news has emerged this week after Undebt's Rob Coad and Sam Talby were appointed as Steak of the Art's new joint administrators on April 9.
The business was established more than a decade ago by former management consultant Stephen Bowen, who ran it under company Groupco, BusinessLive reports.
An unaudited financial statement from March last year revealed the company owed £410,347 to creditors.
It followed a hit to trading during the Covid-19 lockdowns in 2020 and 2021, according to the administrator's report.
Despite some profits from the Bristol branch in 2022 and 2023, it was then impacted by scaffolding on the building in 2024/25, where the business was felt to have insufficient working capital to continue trading and fell into administration.
However, the business and assets relating to the Bristol site have now been sold in a pre-pack administration, enabling that restaurant to remain open.
This includes the transfer of 17 employees, where the average monthly number of people employed by the company was 38 last year.
The steakhouse has been highly praised by customers, receiving a 4.4 star rating on Google with over 1400 reviews.
On TripAdvisor, Steak of the Art has also received some rave reviewed, with its food described as "absolutely delicious".
Longtime restaurant chain closes two key locations after 22 years and customers are devastated
News of the potential closure of all its sites had caused widespread devastation to Steak of the Art's followers.
One diner took to social media and said: "Such a shame, that's the place in Bristol we went."
Another wrote: "Steak of the Art!! Gutted!"
A third complained: "Is there anything left open in the UK?
"Every day something else is closing."
The concept of Steak of the Art enables customers to "view some original art, enjoy a drink or just the pleasure of really great food in a fantastic atmosphere" with its unique dining experience.
The Bristol restaurant even offered diners the option of Moulin-Rouge inspired private dining, that was free to hire for up to 20 people in the room.
Steak of the Art has been contacted by The Sun for comment.
The news comes as various other steakhouse businesses have announced their closures.
One of those is Rio Brazilian Steakhouse in York which shut earlier this year.
Great British Menu star Scott Smith also is having to close his Michelin-listed restaurant Fhior in the summer.
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