Whole Foods Market has recorded deepening losses for its UK operations, as revenues took a sharp downturn.

The company has reported pre-tax losses of £20m for the year to December 31, 2024, despite slashing administrative expenses by £47.7m in the period, according to reporting in The Grocer.

The losses added to a £23.1m deficit in the previous year.

Including the latest set of results, Whole Food Markets has now posted total losses of more than £200m since it first launched in the UK in 2004.

The US-based chain – which has six branches in the UK across London – saw sales fall to £86.4m over the period.

The retailer chose to close two sites in Fulham and Richmond, and so sales from those two sites only contributed to the brand’s financial results until June 10.

Margins at the retailer contacted over the period, while it the retailer also faced a £350,000 lease charge relating to underperforming and shuttered shops.

Whole Foods Market opened its first new UK store in over a decade in March on the King’s Road in London.

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