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The owner of the Côte restaurant chain is reportedly considering injecting new funding into the business rather than proceeding with a sale after two months of talks with potential buyers, according to Sky News.
The outlet has learnt that Partners Group, the Swiss-based private equity firm that acquired Côte out of administration in 2020 for a reported £55m, is weighing the option of providing millions of pounds in new capital to support a turnaround plan, according to sources.
The plan is expected to involve closing loss-making sites while retaining profitable ones.
The chain currently operates about 70 restaurants, down from nearly 100 before its insolvency five years ago. Roughly 60 are understood to be profitable, suggesting scope for further closures.
Sky News reported that Partners Group hired Interpath Advisory over the summer to explore a sale, marketing the business on turnover of more than £150m in the past year. Some buyer discussions are said to be ongoing.
Partners Group and Interpath have been contacted for comment.
