Dining Street Limited has fallen into administration resulting in 147 staff redundancies.
The restaurant group, which operated under brands such as Richoux, Zintino, Friendly Phil’s, and The Broadwick, has cited “ongoing uncertainty” surrounding Covid-19 as the reason for its collapse.
All of the company’s restaurants have been operating under limited trading conditions since the start of the pandemic with only a few of its outlets able to serve take away orders.
Dining Street Limited is the latest restaurant group to fall victim to ongoing lockdown restrictions – with rival brand Casual Dining Group also announcing its collapse last August.
Will Wright, partner at KPMG and joint administrator, said: “The current plight of the UK’s hospitality sector cannot be underestimated.
“Despite the breadth of support packages available, the reality is that the latest lockdown measures have proven to be a hammer blow for many businesses which, like the Dining Street group of companies, continue to accrue creditor liabilities while seeing little to no revenues coming in.”
He added: “The Group had a number of popular brands and outlets, and so we are currently exploring options for a sale of the business and its assets. We would like to invite any interested parties to contact us as soon as possible.”
“We are also working with the Group’s employees as a matter of priority, to provide them with all the assistance they need in claiming monies owed from the Redundancy Payments Office.”