Hundreds of jobs could be in danger, and the Argentine steak chain Gaucho is considering the future of their relaxed notion of KAU.
The company, as you know, compiled by the accounting giant KPMG to help it to evaluate the future of the 22-site network, which may include a voluntary agreement (CVA).
They are becoming more frequent in recent months, as inflation in food prices combined with rising rents, business rates and wages led to increased tension in a relaxed sphere.
Brands including Burger restaurant Byron and Jamie’s Italian have used brew to close the stores and pay a reduced rent on the other site.
A source with knowledge of the negotiations said circuit KAU, that is, employs approximately 700 employees, was worse. Gaucho, which has 12 seats in London out of 16 in the UK and sells 800g Tira de ancho steak for $ 63, is likely to be affected. First came the reports of a potential rescue plan in the sky news.
casual dining restaurants the crisis, the business
Accounts filed at companies house show parent company that is now called Malbec of topco, saw sales rise to £83m in 2016 with £70.3 in 2015 m. But a huge investment in growing KAU, which is open seven places in each of those years, meant pre-tax losses more than doubled to £14.7 m (2015: £6.1 m).
The source added to their owners of private capital Equistone was “supportive” of the rescue talks, which kicked off with the new boss Oliver Meakin, who recently joined the restaurant chain from a non-existent electronics in the workshop of the seller.
Mr. Meakin, who ran the workshop from June 2015, has experience in the sector of food and drinks after a role in a somerfield supermarket and a restaurant Steakhouse Miller & Carter, part of pub group Mitchells & Butlers.
Former Studio boss Oliver Meakin began negotiations Gaucho Accountancy giant KPMG, which could lead to the closure of their sites Cau
His appointment in February came just two months after Gaucho announced its founder Zeev godik decided to resign as chief Executive after 41 years at the helm.
Mr. godik said when he retired last year, a business that he wanted to pursue broader interests in Dubai, where he lives. He remains the Gauchos, although shareholder, along with Equistone partners Europe and a restaurant entrepreneur Luke Johnson.
The press Secretary of the Gaucho said, “through a comprehensive strategic review of the group’s new management team, with the support of its shareholders, in the early stages of evaluating several options for financial restructuring.
“No decisions have been made yet”.