The group, which served ‘feel good fast food’ free from refined sugar, had posted on social media that it was gearing up to launch a crowdfunding drive on Seedrs, even sharing images from the video shoot for the campaign.
MCA reported in April that venture capital trust Pembroke, which has also invested in Five Guys and Chilango, had acquired a stake in the business.
But Bel-Air said it was unable to secure any further funding.
“It is with great regret we must confirm Bel-Air Inc Ltd has ceased trading,” the group posted on its social media accounts yesterday (22 November). “We would like to thank our loyal staff for their enormous efforts and all our wonderful customers.
“Sadly we have some heartbreaking news. We haven’t been able to secure our funding to continue trading and we’ve been forced to close our stores. Thanks for being amazing. Love Bel-Air crew.”
Bel-Air was the brainchild of entrepreneur Andrew Bredon, and launched its first site in Shoreditch in 2015 under former Lardo and St John chef Damien Currie.
The group began expanding rapidly this year, launching a restaurant in Farringdon in January and a third in the City’s Leadenhall building in August.
It is the latest restaurant group to hit the rocks after a difficult year for the industry, with rising rents, business rates and food costs hitting the bottom line. A report by CGA Prestige Foodservice last month found fish prices had leapt by 23%, while cheese and eggs were both up nearly 15%.
Barbecue brand Grillstock fell in to administration last week, while Handmade Burger Co, Chicago Rib Shack and Valentina Fine Foods have all been bought out of administration this year.