Cafe Rouge owner appoints administrators, cuts 1,909 jobs
Reuters
Published Jul 02, 2020 01:39PM ET
LONDON (Reuters) - Britain's Casual Dining Group (CDG), the operator of restaurant chains Cafe Rouge, Bella Italia and Las Iguanas, said on Thursday it had appointed administrators and would permanently close 91 sites immediately with the loss of 1,909 jobs.
The company, which had employed nearly 6,000 people across 250 sites, said the move would enable it to negotiate with landlords ahead of an expected sale of the business.
The closures add to the thousands of jobs that have been lost on Britain's High Streets in recent days from companies hit hard by the coronavirus lockdown, including the owner of food outlet Upper Crust.
CDG Chief Executive James Spragg said he was "acutely aware" of the group's duty to employees and recognised it was a difficult time for them.
"Working alongside the administrators, we will do everything we can to support them through this process with a view to preserving as much employment as we are able to," he said.
Joint Administrator Clare Kennedy of Alix Partners said the immediate priorities would be to assist those who had lost their job and to secure a sale for the group in order to protect other roles.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.