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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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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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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