ANGLO-ITALIAN restaurant chain Carluccio’s has been rescued after Boparan Restaurant Group (BRG) agreed to buy 30 of its UK sites, the company’s joint administrators at advisory firm FRP said on Friday (22).
Carluccio’s went into administration in March as already-challenging trading conditions on the high street were exacerbated by the spread of the novel coronavirus.
The deal sees 800 jobs transferred to BRG, but 40 sites which were not part of the transaction will be closed, resulting in 1,019 staff being made redundant.
“The Covid-19 lockdown has put incredible pressure on businesses across the leisure sector, so it has been important to work as quickly and as decisively as possible,” said Phil Reynolds, joint administrator and partner at FRP.
“(The) sale … ensures the future of the Carluccio’s brand in the UK casual dining scene, retains a significant network of sites across the country and, critically, transfers a considerable number of jobs.”
There was no value provided for the deal. BRG, which owns casual dining brands such as Giraffe and Ed’s Easy Diner, also acquired a site in Dublin, separately to the UK administration.
“This acquisition is in line with our strategy to grow our restaurant group with quality brands,” Satnam Leihal, managing director of BRG, said.
“Whilst it is an extremely challenging time for the sector, we believe quality hospitality businesses will recover in the long term as people return to eating out.”
Boparan Holdings, the parent company of BRG, owns leading food business 2 Sisters Food Group.
Piyush Goyal with shadow chancellor Rachel Reeves (centre), Vikram Doraiswami and other officials at the India Global Forum
And , Goyal with Jonathan Reynolds