Rosa’s Thai Cafe owners rescue Ceviche out of admnistration

The Ceviche restaurant group has been bought out by Rosa’s Thai Cafe founders, Alex and Saiphin Moore, after the group nearly fell into administration.

The restaurant group, famed for its Peruvian food, filed an administration notice last month after wage increases and business rates created cost pressures for the group. 

However, a management led buy-out deal saw the husband and wife team acquire the Ceviche group under Atomex, a turnaround company set up by Alex Moore last year.

The Ceviche Group, founded in 2012 by Peruvian entrepreneur Martin Morales, will continue operating in three of its six sites after the takeover, including the original Frith Street site in Soho.

Three of its sites closed last month, though employees were offered alternative roles throughout the business. At least 88 jobs were secured overall thanks to the buy-out terms, and Morales, although no longer employed by the company, will act as a brand ambassador. 

Raquel de Oliviera, who has worked with the group since its opening in 2011, will remain in her role as managing director. She said she hopes to “stabilise and drive the business in its new chapter”.

Head chef Daniel Ribeiro and group operations manager Alessio Bascherini also continue working for the Ceviche group.

Alex Moore said: “Saiphin and I are incredibly excited about this opportunity as we have been fans of the Ceviche brand for years. 

“We are looking to put a significant amount of time and resources into supporting Raquel and to do so we have chosen to temporarily close our other venture Hoh Sek Noodles.”

Martin Morales added: “It’s with a heavy heart that I step away from the business I created and love dearly, but know I am leaving it in Raquel’s very capable hands. She’s been with me on this journey from day one, and has so much passion for both Ceviche and Andina brands. 

“I’m excited about what lies ahead and I am sure with Alex and Saiphin’s support, she can help grow the business, despite the challenging and uncertain economic times we are currently in.”