SpudULike, the baked potato fast food chain, has closed all of its 37 branches, as it becomes the latest casual dining firm to collapse amid the high street crisis.
The restaurant chain has been around since 1974, when it first opened in Edinburgh. They were loved for being the first counter style baked potato shop.
It is understood that the company had experienced financial difficulty recently. Last month, the company launched a Company Voluntary Arrangement, in an attempt to restructure and attempt to save them business. However, the proposed measures to improve their viability were unsuccessful, as landlords failed to support the ‘’shocking scale of rent cuts’’ and so a buyer failed to be found.
300 staff have been made redundant, with some being told just minutes before their shift started. To add, there is no back pay available for staff – with claims that some employees are owed £500. Staff were told ‘’ Due to the company’s current financial position it is not able to make payments to you for monies due such as arrears of pay, holiday pay, redundancy pay, and compensatory notice pay.’’
Leonard Curtis’ Neil Bennett and Alex Cadwallader are the appointed administrators to SpudULike’s parent company, T&G Fast Food Developments. They are disappointed with the outcome.
‘’Sadly, a sale of the business and assets of the group on a going-concern basis did not prove possible following the last-minute withdrawal of an offer that was close to completion’’.