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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Mar- 2020 -30 MarchCoronavirus
Government relaxes insolvency rules
The government has announced a set of changes to help improve the insolvency system to enable companies undergoing restructuring to continue trading. The relaxed measures announced by business secretary Alok Sharma, will allow companies undergoing restructuring to continue to access supplies and raw materials. It has also temporarily suspended wrongful…
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28 MarchRestaurants
Carluccio’s poised to enter administration amid Covid-19 lockdown
Italian restaurant chain Carluccio’s is reportedly set to file for administration, putting almost 2,000 jobs at risk. According to the Guardian, restructuring firm FRP Advisory confirmed it has been appointed to work with the chain. FRP told the Guardian: “FRP is working with the directors of Carluccio’s to consider all…
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Feb- 2020 -6 FebruaryPeople
Elystan Street’s head chef exits amid ‘professional difference of opinion’
Toby Burrowes has departed as head chef from Phil Howard’s Michelin-starred restaurant, Elystan Street in Chelsea amid a “professional difference of opinion”. Burrowes announced his departure in an Instagram post, which said: “Well the time has come, I have stepped down as head chef at Elystan Street, due to a…
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3 FebruaryRestaurants
Administrators close Mayfair’s The Square restaurant
RSM Restructuring Advisor has been appointed as administrators to three companies within the Marc Limited restaurant group. As a result, Michelin-starred The Square restaurant in Mayfair, which employed 31 staff, has now closed, after administrations were appointed to its operator Dailyrare Limited. The other affected companies include Mortons the Restaurant…
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Jan- 2020 -23 JanuaryRestaurants
Restaurant group Tre Ciccio enters administration
Manchester-based Italian restaurant group Tre Ciccio has entered administration. Tre Ciccio opened its first restaurant in Altrincham in 2018 and opened two more sites in Bramhall and Ramsbottom soon after. The group confirmed the closure on social media. In a Facebook post it said: “We can confirm Tre Ciccio Ltd…
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Nov- 2019 -18 NovemberBusiness
Losses at top 100 UK restaurant groups increase to £93m in last year
The UK’s top 100 restaurants made a £93m loss in the last year, down from a profit of £37m 12 months ago, according to research from UHY Hacker Young. Peter Kubik, partner at the accountancy firm’s London office, said the restaurant sector in the UK is still suffering from the…
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15 NovemberBusiness
Chilango in restructuring talks
Mexican fast-food chain Chilango has announced it is restructuring talks with accountancy firm RSM, which has been drafted in to discuss “options” for the business. RSM said Chilango has “engaged” the firm to assist on working on long-term planning, options and strategy, and a spokesperson added: “All further enquiries should…
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Sep- 2019 -11 SeptemberPeople
108 Brasserie & Bar appoints Emre Gunes as general manager
108 Marylebone Lane has appointed Emre Gunes as general manager at 108 Brasserie and 108 Bar. Bringing with him over 15 years’ experience in the hospitality industry, Gunes has a wealth of experience across a range of high-end restaurants in the capital. He will be joining 108 Marylebone Lane from…
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11 SeptemberBusiness
Closures hit ‘record’ levels in the first half of 2019
The number of stores closing down in the first six months of the year has reached its highest levels, with 2868 closures recorded for the period. An average of 16 stores a day shut their doors, according to research by the Local Data Company (LDC) and accounting firm PwC. The…
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Jul- 2019 -22 JulyPubs and Bars
Number of insolvencies fall over second quarter
The number of insolvencies in the UK has fallen by 14% for the second quarter of this year. The study compiled by ‘Big Four’ firm KPMG found that 310 companies filed for administration between April and June, a fall of 14% compared with the first quarter. The results are on…
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