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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Jan- 2021 -4 JanuaryCafes and Coffee Shops
Lord Sugar joins legal battle against Caffe Nero CVA
Lord Sugar has allegedly joined forces with billionaire Issa brothers to rally against Caffe Nero’s CVA rescue deal. According to Sky News, the television star is among seven other parties which are said to have issued a landlord led legal challenge against Caffe Nero with the hopes that it will…
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Dec- 2020 -21 DecemberComment
What lies ahead for independent restaurants?
Life as an independent restaurant operator has never seemed tougher, particularly for those living within the shackles of tier 3 and 4 restrictions. It’s hard not to look back with rose tinted glasses at a time when the biggest threat to independents was the onslaught of new chain concepts. Corporations…
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14 DecemberNews
Chilango could ‘become the next Chipotle’, says owner
Sameer Rizvi, CEO of RD Capital Partners, has predicted that Mexican restaurant chain Chilango could become the “next Chipotle” after he bought it out of administration in August. In an annual letter published by the investment company, Rizvi said Chilango is “one of the strongest brands in the UK hospitality…
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8 DecemberRestaurants
Barburrito secures future with sale to co-founders
Barburrito, the Mexican eatery, has secured its future through an administration sale securing new investment in the business. Barburrito chairman Graham Turner leads a new investment in the business, alongside other private investors, backing the existing management team of Morgan Davies, founder and CEO and Steve Herring, finance director. The…
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7 DecemberRestaurants
The Bleeding Heart Group to close two sites under CVA
The Bleeding Heart Restaurant Group has announced it is to undergo a CVA which will see the closure of two of its sites. The group is set to close its the Don and the Bleeding Heart restaurants as part of the restructuring in order for its The Bleeding Heart Tavern…
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4 DecemberRestaurants
London restaurant Arros QD CVA receives approval
Mediterranean restaurant and bar Arros in London’s Fitzrovia has seen its creditors approve its CVA proposal. Accountancy firm RSM advised on the restructuring of the sister company to the Iberica group of restaurants. The CVA was approved on 30 November achieving 100% support from voting creditors. The firm said the…
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Nov- 2020 -16 NovemberCatering Companies
Gategroup announces financial restructuring
Gategroup Holdings has announced that its shareholders, RRJ Capital and Temasek, and all bank lenders have reached a principle agreement to support a “comprehensive restructuring of the group’s financial indebtedness”. The catering company said the proposed transaction will reportedly provide the group with “significant new liquidity” to address the company’s…
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13 NovemberCafes and Coffee Shops
Caffe Nero launches CVA proposal
Caffe Nero has launched a CVA proposal, in which it will ask landlords to cut costs as the ongoing impact of Coronavirus take its toll on the coffee chain. The company which employs 6000 people said it was undertaking the proposal to “better manage” its fixed costs moving forward in…
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9 NovemberCafes and Coffee Shops
Caffe Nero lenders prepare for CVA
Alcentra and Partners Group, which reportedly provides mezzanine debt to Caffe Nero, has called in financial advisers as the company prepares for a CVA that could potentially lead to permanent store closures and job losses. According to Sky News, Alcentra has requested FTI Consulting to join them in discussions regarding…
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2 NovemberNews
Tasty reports £11m loss
Tasty, a restaurant group that owns Wildwood and Dim T, has reported a loss of £11m for the six month period ending 28 June. According to the company’s interim report, Covid-19 restrictions caused total sales to fall 59% from £21.1m to £8.7m. All of the firm’s sites closed from 24…
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