'Posh Spar' Closes on Fulham Palace Road
Premium convenience chain Eat 17 making cutbacks after poor sales
The former Eat 17 in Hammersmith. Picture: Google Streetview
April 8, 2024
The convenience store and restaurant on the Fulham Palace Road, Eat 17 has been closed after the chain made cutbacks due to poor performance.
Launched in the Spar store as a premium brand, the move came after the company reported disappointing annual results for the year ending March 2023.
It experienced a double-digit drop in turnover leading to a loss of £643,000 compared to £295,226 the year before.
The Hammersmith Eat 17 opened in The Assembly, a mixed use development at Smith Square Market, in 2018. The concept was to combine the elements of a supermarket with dining and it included an indoor street food market. In addition yoga classes were held in the store in an internal mezzanine space.
It aimed to provide an eco-friendly shopping experience with 100 refillable food lines for customers who wished to cut down on their plastic use. You could bring your own reusable containers and refill items such as olive oil, detergent, pasta, rice, cereals, nuts and grains.
In the results statement founder James Brundle said: “Our primary focus has been on streamlining our business operations and consolidating our resources to maximise profitability.
“During the period, management identified that the wholesale and Hammersmith side of the business were performing below budget. Post year end, these sites were closed and by aligning our efforts towards the most successful sites, we have positioned ourselves to concentrate on optimising their performance and facilitating sustainable growth.”
There are now three Eat 17 stores remaining in Walthamstow, Hackney and Bishop’s Stortford but the original Walthamstow store is subject to a sale and leaseback agreement to help the company reduce debt.
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