Restructuring
This covers restructuring activity across the UK foodservice, hospitality, and catering sectors, including business model overhauls, site closures, CVAs, administration processes, and turnaround plans. We report on the financial and strategic decisions affecting restaurant groups, pub operators, catering firms, and F&B suppliers, with analysis of their implications for staffing, operations, and supply chains. Designed for owners, operators, and executives navigating commercial pressures or monitoring market shifts among competitors and peers.
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Aug- 2020 -7 AugustPubs and Bars
JD Wetherspoon to axe up to 130 head office roles
JD Wetherspoon has warned that up to 130 positions in its head office could be at risk of redundancy, following a restructuring of the group. The company confirmed it has written to all 417 employees at its head office, including those who are regionally based, to inform them of the…
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6 AugustRestaurants
Yo Sushi eyes CVA
Yo Sushi has reportedly drafted in Deloitte in a bid to negotiate rent concessions with landlords and secure a potential CVA, Sky News has reported. While the sushi chain has not yet made a formal decision to proceed with a CVA, sources told Sky that the group would have “little…
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4 AugustRestaurants
Pizza Express closes 67 sites
Pizza Express has announced that it could close up to 67 restaurants as part of a major restructuring plan, placing 1,100 jobs at risk. It comes as the group said it has reached an agreement with its secured creditors and majority shareholder, Hony Capital, for a recapitalisation and restructuring transaction…
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Jul- 2020 -24 JulyRestaurants
Pizza Express to reopen 150 more UK sites
Pizza Express has announced it is to reopen 150 more UK sites by early August. Some 71 restaurants will reopen for dine-in experience and dine-out services on 30 July and an additional 88 on 6 August. These next phases of Pizza Express’ reopening plan follow “test and learn” trials of…
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16 JulyCoronavirus
Pizza Express set to fall into hands of its lenders
Pizza Express is reportedly set to fall into the hands of its lenders, possibly as early as this month, which could lead to the possibility of store closures. According to the Financial Times, its lenders are in talks with its Chinese owners Hony Capital for a debt-for equity swap with…
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16 JulyRestaurants
Bistrot Pierre collapses into administration
KPMG has revealed it has led the administration of restaurant group Le Bistrot Pierre. The firm confirmed that restructuring practice members, Will Wright and Steve Absolom, were appointed joint administrators of the French-style restaurant chain. Following their appointment, the business and certain assets were “immediately” sold to Bistrot Pierre 1994…
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6 JulyCoronavirus
Pret set to slash 1,000 jobs and shutter 30 stores
Pret a Manger is reportedly set to slash almost 1,000 staff roles and shutter 30 of its 450 UK stores amid spiralling sales. According to a report by the Financial Times, Pret’s CEO, Pano Christou, said today (6 July) that the chain is facing a “significant restructuring of the business”,…
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Jun- 2020 -10 JuneCoronavirus
The Restaurant Group launches CVA, 125 sites to close
The Restaurant Group has announced a proposal to reduce the size of its Leisure estate and rental cost base through a company voluntary arrangement (CVA). The CVA will relate to the group’s Frankie and Benny’s estate, Chiquito and Garfunkel’s sites, but will have no impact on the group’s Wagamama, airport…
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8 JuneCoronavirus
The Restaurant Group confirms restructuring talks
The Restaurant Group has confirmed it has entered discussions with its landlords regarding the “potential restructuring” of its Leisure estate. The group’s Leisure Division, which includes its Frankie and Benny’s, Chiquito and Garfunkel’s sites, does not impact trading across the group’s Wagamama chain. It comes only days after news that…
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5 JuneCoronavirus
Azzurri Group considering sale options
The Azzurri Group is reportedly working alongside advisors in a bid to find a potential buyer for the restaurant giant, according to Sky News. The parent group of Ask Italian and Zizzi, which is currently owned by private equity firm Bridgepoint, is now in the process of contacting prospective bidders…
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