Gaucho was acquired by newly formed company Lomo Bidco – owned by Gaucho creditors Investec and SC Lowy – and the firm will support Williams deliver on its vision for the business.
Williams, a former MD of Gaucho, brings over 20 years of restaurant experience to the brand and will lead the management team, which has been expanded with a number of new hires. Martin will maintain his role as CEO of M Restaurants.
The new vision will be implemented immediately and build on “everything about the Gaucho heritage that is loved”. The management team also has further plans for 2019 onwards to include refurbishments and a new brand direction.
A new menu, launched this week, retains some dishes but also introduces a wider selection of Latin American style items to the offering at Gaucho.
Williams said: “Congratulations to Investec and SC Lowy on supporting Gaucho through this difficult period and ensuring the survival of the business and safeguarding over 700 jobs. Investec and SC Lowy believe Gaucho is a great business and a brand which can be taken to new heights. I am delighted to be leading this incredible journey which will re-establish the brand as the leading premium restaurant group in the UK and diners’ ‘go to’ favourite.
“In an incredibly challenging environment for the restaurant sector, it is fantastic to be heading up both M and Gaucho – I am delighted that I have the best talent in UK Hospitality working with me in both companies and proud that we will be delivering outstanding experiences for the increasingly discerning diners of the UK.”
Investec and SC Lowy added: “We are delighted that Gaucho has been able to exit from this troubled period and through our support the survival of the business has been ensured. We know the brand and business well and have utmost confidence that there is a bright future ahead.
“We are extremely pleased to have brought Martin on board and are fully committed to support the vision for the business, including investment in restaurants and the brand. This is an exciting time for Gaucho and we look forward to the Gaucho proposition leading re-engagement with our customers.”