Sugarloaf acquired the chain from Breal Capital and Calveton UK in October of this year and immediately sought to sell it. However, it has been reported that the company filed a notice of intention to appoint administrators on the 5th of December.
The CVA would only really work if the main problem was high rents or just certain outlets needed to be closed down. The money that it owes its lender is no doubt secured so they have the power to call in administrators at any time.
Without knowing more about its exact financial position it is hard to say.
If the company does go into administration it is likely that a number of the restaurants, which are making money, will be snapped up by other restaurant groups and may continue to trade under the TGI brand. If not then the owners will take advantage of their prime locations.
Written ByRobert Moore
Marketing Manager
Rob has over a decade of experience in web and general marketing. He has extensive knowledge of the Insolvency sector and has helped many worried directors with their questions.
Rob is now working with the Board at RMT KSA to develop strategic marketing programmes to support the business plan and drive more company rescues.
A guide for redundant employees
A guide for redundant employees
Is Your Retail Business Is Struggling A CVA Could Save It
Is Your Retail Business Is Struggling A CVA Could Save It