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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Oct- 2018 -29 OctoberBusiness
Profits at top 100 UK restaurant groups plunge 80% to £37m in a year
The total pre-tax profits at the UK’s top 100 restaurants have plummeted by 80% in the last year to £37m, down from £194m 12 months ago according to accounting firm UHY Hacker Young. The drop means that pre-tax profits at the UK’s top 100 restaurant groups have fallen 89% from…
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24 OctoberBusiness
GBK enters CVA
GBK has announced it is to enter a CVA this afternoon (24 October) following the appointment of Deloitte in September to oversee a restructuring of the business. In an announcement, Famous Brands, the South African restaurant chain’s owners said: “The CVA process has the objective to ensure financial viability and…
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Sep- 2018 -4 SeptemberBusiness
Casual dining brands show growth despite high street woes
Casual dining has continued to grow with visits up 7%, latest figures from global information company The NPD Group have shown. The firm said many operators – especially newer, challenger brands – are continuing to focus on expansion despite high-profile closures and restructuring that some have described as the ‘Casual…
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3 SeptemberRestaurants
GBK ‘appoints restructuring advisors’ prompting CVA suspicions
Burger chain Gourmet Burger Kitchen (GBK) has reported appointed restructuring advisors Deloitte leading to suspicions that the company could be set to enter a company voluntary arrangement (CVA). According to The Times, Deloitte is seeking rent reductions and site closures for the chain which recently reported a loss of £2.24m…
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Aug- 2018 -7 AugustOpinion
Is the demise of restaurant chains a good thing for local independents?
The Gaucho restaurant group is the latest in a list of chain restaurants to appoint administrators or announce restructuring and branch closures. The news, including the closure of their 22 Cau restaurants follows on from the restructuring of Jamie’s Italian, Prezzo, Café Rouge, Byron and Strada. In my home city…
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1 AugustRestaurants
Ed Baines’ ‘Randell and Aubin’ restaurant for sale
TV chef Ed Baines’ ‘Randell and Aubin’ restaurant in Manchester has been listed for sale with a lease price of £80,000 per year. The seafood restaurant was opened in late 2017 in an attempt to replicate the success of Randell and Aubin’s Soho branch which has been a staple of…
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Jul- 2018 -3 JulyBusiness
Restaurant CVAs rise by 143% over six months
New research has found the number of restaurants entering a company voluntary agreement (CVA) has increased by 143% over the last six months compared with the previous period. Data analysed by law firm Linklaters shows that there were 12 CVAs in the first quarter of this year. This compares to…
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Jun- 2018 -19 JuneBusiness
Eat avoids CVA following sales boost
Sandwich chain Eat has avoided having to draft in advisors as recent closures and an increase in sales have put the company back on track, Catering Today understands. In February, the chain was reported to have appointed advisors KPMG to help it with its restructuring plan which included the closure…
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1 JuneRestaurants
Carluccio’s approves CVA putting 500 jobs at risk
The creditors of Italian dining chain Carluccio’s have voted in favour of a company voluntary agreement (CVA) which could see more than 30 of its outlets closed and put 500 jobs at risk. On Thursday 31 May, 91% of its creditors approved the decision. The 34 restaurants at risk would…
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May- 2018 -17 MayBusiness
34 Carluccio’s restaurants to close after it announces CVA
Italian restaurant chain Carluccio’s has announced it is to close 34 restaurants as part of a recently announced company voluntary agreement (CVA). As many 103 UK sites are also set to “exit” as part of restructuring at the company. The CVA, yet to be approved by creditors will see the…
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