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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Jun- 2019 -24 JuneRestaurants
Pod sold to ASK Italian owner in pre-pack administration
Pod Food Limited has been sold to Azzurri Group, owner of the ASK Italian, Zizzi, Coco di Mama and Radio Alice brands. The sale was via a pre-pack administration after Damian Webb and Allan Kelly of RSM Restructuring Advisory LLP were appointed administrators of Pod Food Limited on the 21…
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10 JuneBusiness
15 of the top 20 UK restaurant companies ‘cannot cover debts’
According to research by accountancy group UHY Hacker Young, 15 of the top 20 UK restaurant companies do not have enough cash to cover their debts falling due in the next year. An analysis of the short term liabilities and assets of the UK’s top 20 restaurant companies reveals that,…
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7 JunePubs and Bars
Fazenda Bar and Grill completes internal restructure
Leeds-based law firm Blacks Solicitors LLP has overseen and helped coordinate the internal restructuring of ownership in Fazenda Rodizio Bar and Grill for investment vehicle LLB Investments Limited. City District, which owns and operates the restaurant chain and brand, chose Blacks due to an existing relationship, and the firm’s extensive…
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May- 2019 -29 MayBusiness
UK’s top restaurant groups lost £82m in the last year
The UK’s top 100 restaurants made an £82m loss in the last year, down from a pre-tax profit of £102m 12 months ago, research by accounting firm UHY Hacker has found. Furthermore, pre-tax profits at the UK’s top 100 restaurant groups have fallen from £345m since the first quarter of…
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Mar- 2019 -22 MarchRestaurants
Giraffe and Ed’s Easy Diner CVA closures approved
The creditors of Giraffe Concepts Limited, the operator of the Ed’s Easy Diner and Giraffe restaurant brands, have approved its proposed company voluntary arrangement (CVA). Earlier this month, parent company Boparan Restaurant Group (BRG) announced its intentions to close 27 sites and seek rent reductions at others. The company currently…
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4 MarchRestaurants
Giraffe and Ed’s Easy Diner to close 27 sites
Boparan Restaurant Group (BRG) is to close a third of its Giraffe and Ed’s Easy Diner sites, affecting hundreds of jobs, as the group seeks a rescue deal. BRG has appointed KPMG to oversee its CVA deal which if approved will see the group reduce its portfolio and seek rent…
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Feb- 2019 -26 FebruaryPubs and Bars
Pub and restaurant closures lead to 31% rise in insolvency costs
Insolvent companies, across all sectors of the British economy, that couldn’t pay their debts have cost taxpayers £3.07bn in payments to former members of staff during the last decade new research has revealed. Last year, during 2018, The Insolvency Service an agency of The Department for Business, Energy and Industrial…
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Dec- 2018 -4 DecemberRestaurants
Simon Cope resigns as Byron CEO
Simon Cope has resigned from his position as the CEO of embattled burger restaurant chain Byron amid the company’s restructuring plan under a CVA. His termination document appeared on Companies House on 3 December, stating he resigned on 30 November, just 18 months after joining from Wagamama, initially as Byron’s…
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Nov- 2018 -27 NovemberAnalysis
Recent criticism of CVAs raises the question: “are they fit for purpose?”
In 2018, we have seen a number of high-profile retail restructurings and common to many is the use of a company voluntary arrangement (CVA). After much press comment, which tended to focus on the plight of landlords, R3, the association of business recovery professionals, produced a report in May 2018…
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12 NovemberRestaurants
250 jobs at risk as GBK closures given the go-ahead by creditors
Creditors have given approval for burger chain GBK to close 17 underperforming restaurants putting 250 jobs at risk. GBK is currently undergoing a major restructuring plan which includes the renegotiation of rent alongside the closures. The company’s restructuring plan was announced after it claimed to suffer from increased competition and…
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