Iconic seafood restaurant closing more stores in South Africa

Spur Corporation, the owner of John Dory’s, said it may need to close more of the brand’s restaurants in the coming years as it continues to struggle.

However, turnaround efforts are underway, with the brand being repositioned and undergoing rationalisation.

Established in 1996, John Dory’s is a well-known South African restaurant chain that serves fish, sushi, and other seafood items.

It is owned by the Spur Corporation, which also has Spur, Panarottis, RocoMamas, and Doppio Zero in its portfolio.

Spur Corporation bought a 60% stake in John Dory’s in 2004, when it was still a KwaZulu-Natal-based franchise with only seven outlets.

In the years since, John Dory’s has grown far larger, and Spur has increased its stake in the company to 100%.

John Dory’s has come under pressure in recent years, with Spur Corporation’s latest results for the 2026 financial year showing its decline.

John Dory’s revenue fell by 17.4%, with its profit down 23.3%. Its sales fell by 11.2%, and by 4.2% on a like-for-like basis.

The brand also closed 7 outlets in the 2026 financial year, while opening only 2 over the same period.

This marks a continuation of the pressure John Dory’s has been under for a few years now, with the brand’s footprint only having grown once in the past six years.

In 2020, John Dory’s had 55 outlets. This has shrunk to 39 in the 2026 financial year, a 29% decrease. 

The brand now only accounts for 2.9% of the overall group’s revenue, a decline from 3.8% in 2025.

This stands in stark contrast to the other brands in Spur Corporation’s stable, which have seen strong growth over the past few years.

Panarottis, for example, was a standout in the latest results, having grown its store count from 97 to 102 outlets and its before-tax profit rising by 19.5%.

Even the Spur Corporation’s speciality brands grew in the 2026 financial year. Despite having closed 5 stores, this segment’s profit before tax grew by 5.2%.

Turning John Dory’s around

At Spur Corporation’s 2026 results presentation, CFO Cristina Teixeira pointed out that John Dory’s was the worst performer in the company’s South African franchise decision.

However, she said that despite its struggles, the brand has maintained revenue of R9 million per half-year and a consistent profit of R4 million per half-year.

“Growth in this brand category does remain challenging,” she said.

Spur Corporation CEO Val Nichas explained that it is normal for the brands in a portfolio not to perform at the same level during the same cycle.

“This one has challenged us a little more because of the sensitivity of the seafood category,” she said about John Dory’s.

She acknowledged the brand’s weak growth and warned that investors will continue to see this trend while the company continues to rationalise the portfolio.

This rationalisation will see the company either convert or close John Dory’s outlets while refining the top-performing stores.

She said the company has a turnaround plan for the brand, though it may need a bit more “creative and innovative thinking”.

“At this stage, we do not intend to dispose of the John Dory’s brand,” she said.

John Dory’s embarked on a brand repositioning in August 2024, when it revealed a refreshed brand identity complete with a new logo.

At the time, the company said this brand refresh was the result of a “consumer-led, creative exploration”, and a massive undertaking by all involved.

“It is a huge milestone in the brand’s story, in acknowledging its history while looking to the future,” the company said.

“In its 28th year, John Dory’s has taken the bold step to refresh their brand to better meet the needs and expectations of customers.”

“John Dory’s is looking to the future, and, with a fresh new look, the brand is ready to take customers, both old and new, along for what promises to be a very exciting journey,” brand COO Donovan Cronje said.