Salt Bae's empire may be under threat amid £5.4 million loss
There was a time when Salt Bae ruled the internet and the dining world, but recent events have shown more than ever that time’s a distant memory.
Nusret Gökçe, the Turkish butcher-turned-viral sensation, became a household name after a video of his dramatic seasoning style took social media by storm back in 2017.
With one slick flick of salt over a perfectly cooked steak, he transformed from a humble chef in Istanbul to an international symbol of luxury dining.
His Nusr-Et restaurants soon became playgrounds for celebrities and influencers, where gold-leaf steaks and eye-watering bills were all part of the performance.
Advert
The London Knightsbridge restaurant, which opened in 2021, quickly became the jewel in his crown. It pulled in £7 million in its first year, and by 2023, sales had climbed to an impressive £10 million. Everyone wanted a taste of the spectacle, and for a while, the hype seemed unstoppable.
As 2025 rolled around, though, the glitter had started to fade. Behind the glitz and the Instagram fame, cracks were beginning to show; now, the Salt Bae empire may be in serious trouble.
According to reports from various outlets, summarized by International Business Times, Nusr-Et has recorded a staggering £5.4 million loss at its London flagship in 2024, marking a major downturn for a brand once synonymous with opulence.
The decline has been fuelled by an aggressive push into the US market, which has since backfired. The expansion saw seven locations across America shrink to just two by mid-2025, after high-profile closures in New York, Boston, Dallas, Las Vegas, and Beverly Hills.
The failed venture racked up £6.6 million in exceptional expenses, leaving the UK arm, which technically owned the US assets, in a £5.5 million pre-tax deficit for 2024.
Revenues in affected markets dropped by around 30 percent, as customers struggled to swallow £600/$920 steaks and lavish pricing.
In the UK, the restaurant’s once-buzzy reputation took a nosedive online.
The Knightsbridge branch’s TripAdvisor score now sits at 2.9 from around 400 reviews, with furious diners describing Gökçe as an ‘insult to humanity.’
One viral post from food critic @SouthDallasFoodie celebrated the closure of the Dallas outlet, writing: “Salt Bae’s restaurant ‘Nusr Et’ in Dallas is now permanently closed and I like to think that we all had a part in that. Go team.”
Hygiene issues, questionable management decisions, and tone-deaf marketing have only added fuel to the fire. Set-menu price cuts in 2024 were introduced to win back customers, but the damage may already be done.
Responding to the original story, Nusr-Et spoke to FOODbible to provide 'clarification regarding recent misleading reports', saying: "Nusr-Et London registered a turnover of £10,068,555 in 2024, corresponding to a 7.9% increase compared to £9,333,923 in 2023. Excluding the impairment against Nusr-Et US closures, operating profit of Nusr-Et London increased by 24.6% in 2024 (£1,893,199) compared to 2023 (£1,519,320).
"Please note that Nusr-Et’s U.S. operations are structured as a wholly owned subsidiary of our Nusr-Et U.K. entity. Due to the closure of select U.S. locations in 2024, a one-time impairment was recorded in the U.K. financials."
The Nusr-Et Press Office added: "This reported loss is purely a non-cash accounting adjustment and does not reflect operational performance.
"Nusr-Et continues to pursue an active, dynamic, and growth-oriented global strategy. As part of this, we are realigning some of our U.S. operations toward new high-opportunity markets, including Milan, Mexico City, Rome, and Ibiza.
"Our presence in the United States remains strong through our locations in Miami and New York City, and we are proud to continue delivering our signature Nusr-Et dining experience to carefully selected growth markets around the world."
Still, with reserves falling from £8.1 million to £2.3 million, it’s clear the empire has been shaken.
For a man whose brand was built on luxury and excess, the fall from grace has been swift. Analysts warn that without serious reinvention, Nusr-Et’s global footprint could shrink even further.
Topics: Celebrity, Restaurants and bars, UK Food, US Food, Instagram
Ben Williams