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Month: May 2020

Carluccio to be bought

Just over a month since the last news hit the media about the state of Carluccio’s administration and we hear of a promising deal in the line-up for the struggling high street restaurant chain.

The owner of the Giraffe restaurant chain, Boparan Restaurants, led by tycoon Ranjit Boparan, is said to be making a deal to takeover the Carluccio’s brand, head office and around 30 of its restaurants. 

If this deal is set in stone, around 900 employees will be saved and there will be a short-term guarantee of the brands future.

FRP Advisory declined to comment.

Winding up petitions against hospitality businesses up

The number of petitions filed against hospitality firms up to 20 April 2020 reached 53, compared to 20 during the same period in 2019, according to figures compiled by accountancy firm UHY Hacker Young.

The figures account for only the very early stages of the coronavirus crisis. The accountancy firm anticipates that some of the increase is attributable to a drop in high-street footfall, resulting in some underperforming restaurants falling into insolvency.

The government has announced a temporary ban against the use of winding-up petitions. This is currently set to end on 30 June, all though there is an expectation it will be extended

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Al fresco dining could be allowed within weeks

Some restaurants, pubs, and coffee shops could be allowed to open within weeks, which would be a month earlier than expected.

Ministers are reportedly considering plans to allow hospitality venues to open in outdoor areas in what would be a boost to the sector.

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