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- 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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17 MayBusiness
Carluccio’s to address CVA rumours ‘this afternoon’
Italian restaurant chain Carluccio will issue a statement this afternoon regarding rumours of a potential company voluntary agreement (CVA), Catering Today can reveal. Accountancy firm KPMG is rumoured to be overseeing the restructuring of the business and did not deny the rumours when asked by Catering Today. The work would…
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15 MayRestaurants
Number of restaurants in England up 13% since the recession
The number of restaurants in England has increased by 13% since the recession – from 22,230 in 2009 to 25,070 in 2018, says peer-to-peer lending platform, Lendy. Lendy says the sharp rise highlights just how intense competition in the UK restaurant market has become, as recent years have seen rapid…
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11 MayBusiness
Gaucho to cut 750 jobs as 22 Cau restaurants under threat
Argentinian restaurant chain Cau, owned by Gaucho, is set to cut 750 jobs and the future of all 22 of its restaurants is in doubt. Chain owners Gaucho have fallen out of love with the chain, and have brought in financial advisors KPMG to look at cost cutting options. KPMG’s…
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Apr- 2018 -24 AprilPeople
Prezzo CEO steps down after closing a third of outlets
Jon Hendry-Pickup has stepped down from his role as the CEO of Prezzo, following the chain’s CVA agreement. Hendry-Pickup joined the group in 2016 and Karen Jones will take over his position, following her appointment as executive chairwoman. Jones was the former chief executive of pub company Spirit Group. In…
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Mar- 2018 -20 MarchNews
35 of the UK’s Top 100 restaurant groups are loss making
35 of the UK’s Top 100 restaurant groups are now loss-making, up 75% from just 20 last year, new research shows. Chartered accountants, UHY Hacker Young, found that trading conditions have become increasingly difficult for restaurant chains dealing with oversaturation in the market as well as rising costs. Casualties include…
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