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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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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May- 2020 -22 MayRestaurants
Over 1,000 Carluccio’s staff made redundant following BRG acquisition
Over 1,000 Carlucio’s staff members have been redundant after Boparan Restaurant Group (BRG) acquired the brand today (22 May). Despite this, the 30 sites acquired in the deal will save over 800 jobs. However, the remaining 40 sites, which were not part of the transaction, will now be shuttered, resulting…
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4 MayCoronavirus
Azzurri Group drafts in advisors
Azzurri Group has reportedly drafted in KPMG as advisors to help the hospitality giant navigate the ongoing coronavirus crisis. According to The Sunday Times, the owner of Zizzi and Ask Italian has become the latest casual dining chain to draft in restructuring experts, following news that both Wahaca, Gourmet Burger…
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Apr- 2020 -24 AprilCoronavirus
Wahaca drafts in advisors
Wahaca has reportedly drafted in advisors in order to help it consider its financial options as the nationwide lockdown continues. According to Sky News, the mexican chain is now working alongside PwC to examine its finances and advise it before a reopening timetable for the hospitality sector is released by…
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