Owner of popular Fife restaurant on the brink of administration – The Courier

The way forward for a preferred Fife restaurant is doubtful as its proprietor has signalled its intention to nominate directors.

Informal Eating Group has filed the discover of intent on the Excessive Court docket, placing 6,000 jobs in danger.

Among the many firm’s eating places is Bella Italia, located subsequent to the Odeon cinema at Fife Leisure Park, on the outskirts of Dunfermline.

The group additionally owns the Café Rouge and Las Iguanas chains.

The transfer will give the agency 10 days respiration area to think about “all choices” for restructuring.

The corporate confirmed that it’s working with advisers from company finance agency AlixPartners over a possible restructuring programme aimed toward placing the restaurant group on a sustainable footing.

Bella Italia in Dunfermline. Image: Google.

A Informal Eating Group spokeswoman mentioned: “As is extensively acknowledged, that is an unprecedented state of affairs for our trade and, like many different firms throughout the UK, the administrators of Informal Eating Group are working carefully with our advisers as we contemplate our subsequent steps.

“These notifications are a prudent measure in gentle of the corporate’s place and the broader state of affairs.

“These notifications may also shield the corporate from any threatened potential authorized motion from landlords whereas we evaluate the element of the Authorities recommendation, and formulate a plan for the corporate in these troublesome instances.”

The announcement comes amid experiences that troubled rival chain Carluccio’s is closing on a rescue deal which may save 900 jobs on the enterprise.

Restaurant chains have been hammered by the coronavirus pandemic after the Authorities-mandated lockdown compelled them to close their doorways in March.

Leaders within the sector have warned that social distancing measures on reopening will considerably hinder profitability within the trade.

It’s understood that quite a lot of preparations are nonetheless being checked out by the Informal Eating Group, together with firm voluntary association (CVA) restructuring offers or the administration of particular manufacturers.

The group, which has furloughed the vast majority of its workers, traded from round 250 websites throughout the UK earlier than the lockdown.

It’s understood the group has seen profitability enhance because it agreed a refinancing cope with US personal fairness agency KKR in 2018.

In the meantime, the proprietor of rival chain Giraffe, Boparan Eating places, is reportedly closing on a deal to purchase Carluccio’s in a transfer which might save round 900 jobs.

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