Prezzo
Coverage tracks the trading performance, estate strategy, and brand repositioning of one of the UK’s longest-standing Italian casual dining chains. Reporting includes restaurant closures, CVA processes, delivery and takeaway development, new menu formats, pricing strategy, and brand updates under current ownership. Insight is tailored for operators and suppliers monitoring mid-market high street dining, turnaround plans, and consumer appetite for affordable, family-friendly Italian concepts.
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Sep- 2018 -3 SeptemberRestaurants
GBK ‘appoints restructuring advisors’ prompting CVA suspicions
Burger chain Gourmet Burger Kitchen (GBK) has reported appointed restructuring advisors Deloitte leading to suspicions that the company could be set to enter a company voluntary arrangement (CVA). According to The Times, Deloitte is seeking rent reductions and site closures for the chain which recently reported a loss of £2.24m…
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Aug- 2018 -7 AugustOpinion
Is the demise of restaurant chains a good thing for local independents?
The Gaucho restaurant group is the latest in a list of chain restaurants to appoint administrators or announce restructuring and branch closures. The news, including the closure of their 22 Cau restaurants follows on from the restructuring of Jamie’s Italian, Prezzo, Café Rouge, Byron and Strada. In my home city…
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Jul- 2018 -27 JulyRestaurants
More restaurant groups to fail before year-end, analysts predict
At least two or three more restaurant groups are expected to fall before the end of 2018, analysts from real estate agents Christie and Co have predicted. In the first half of 2018, a number of high profile operators have turned to company voluntary arrangements (CVAs) as a means to…
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9 JulyBusiness
Trio of bidders including Osmond queuing up for Gaucho
Hugh Osmond’s eponymous Osmond Capital group is said to be one of three companies bidding for struggling steak chain Gaucho. Osmond is thought to have bid less than the £50m owed by Gaucho to its creditors, and according to Sky News, is competing with Core Capital and Limerston Capital for…
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3 JulyBusiness
Restaurant CVAs rise by 143% over six months
New research has found the number of restaurants entering a company voluntary agreement (CVA) has increased by 143% over the last six months compared with the previous period. Data analysed by law firm Linklaters shows that there were 12 CVAs in the first quarter of this year. This compares to…
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Jun- 2018 -27 JuneCafes and Coffee Shops
Costa Coffee sales dip 2% in Q1
Coffee chain Costa has reported a fall in like-for-like sales at the start of the year, blaming a lack of shoppers on the high street. Although total UK sales grew by 5.2% due to new store openings, according to Costa owner Whitbread, the UK’s biggest coffee chain revealed a 2%…
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21 JunePeople
Prescott and Conran falls into administration
The restaurant group founded by Habitat owner Sir Terence Conran – Prescott and Conran – has fallen into administration. The three remaining London outlets of Prescott and Conran – Parabola in Kensington, Lutyens on Fleet Street and Albion in Clerkenwell – have shuttered putting 168 jobs at risk The restaurant…
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7 JunePubs and Bars
Mardi Gras pub in doubt as annual rent doubles
JD Wetherspoon’s Mardi Gras pub in Trafford Centre in Manchester faces an uncertain future as a rent review has shown an annual increase of almost 100%. F&B chains that took sites at inflated rents led to the increase, said Tim Martin, JD Wetherspoon’s chairman and founder. His firm had initially…
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May- 2018 -17 MayBusiness
Carluccio’s to address CVA rumours ‘this afternoon’
Italian restaurant chain Carluccio will issue a statement this afternoon regarding rumours of a potential company voluntary agreement (CVA), Catering Today can reveal. Accountancy firm KPMG is rumoured to be overseeing the restructuring of the business and did not deny the rumours when asked by Catering Today. The work would…
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15 MayRestaurants
Number of restaurants in England up 13% since the recession
The number of restaurants in England has increased by 13% since the recession – from 22,230 in 2009 to 25,070 in 2018, says peer-to-peer lending platform, Lendy. Lendy says the sharp rise highlights just how intense competition in the UK restaurant market has become, as recent years have seen rapid…
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