12 July 2020
It has been reported that Epiris, the buyout firm, is having detailed talks with administrators about buying Casual Dining Group.
A deal is yet to be finalised, but is expected in the coming days.
Elliott Advisors have also shared interest in purchasing the group.
Hear more from Sky News.
3 July 2020
Bella Italia and Café Rouge owner, Casual Dining Group, has gone into administration. This has meant 91 outlets to close immediately and 1,900 of the 6,000 staff to lose their jobs.
The 91 restaurants are located mainly in England, with a few in Scotland and Wales. The remaining 159 of the groups 250 outlets will remain open.
Administrators, Alix Partners, are looking for any interested parties to make offers for all, or part of the business.
It is reported that already multiple offers have been received of which the business hopes to pursue in efforts to rescue itself.
Chief executive, James Spragg said: ‘’We are acutely aware of our duty to all employees and recognise that this is an incredibly difficult time for them.’’
He stresses he will do all he can, working alongside and supporting the administrators, aiming to preserve as much employment as possible.
The ‘’extreme operating environment’’ for the casual dining sector, among others, due to coronavirus forcing restaurants to shut since the start of March, is blamed.
The full list of Casual Dining Group closures
Soton Above Bar
Bury St Edmonds
Maidstone Earl St
Café Rouge Rapide Inverness Airport
The George Ale & Coffee House (T5)
The Darwin Ale & Coffee House (T3)
Oriel Heathrow T4
La Salle Heathrow T2
Bella Italia Luton
Oriel Heathrow T3
Huxleus Heathrow T5
The Shipyard Jersey