Avenue Castle, previously Pizza Piazza, is placing its future hopes on its Pizza Organic brand after restructuring.
The 16-strong group of pizza restaurants was forced into receivership last month after Revenue and Customs refused to defer a VAT payment.
Chief executive Ian Taylor said the move had been in part a result of July’s terror attacks, which had severely hurt its five central London restaurants slashing cash flow.
“Short-term, we will look to stabilise ourselves, but in Organic we have our growth brand,” said Taylor.
Avenue Castle is converting the majority of its restaurants to the Pizza Organic brand, keeping some Pizza Piazzas as development sites.
Longer-term the company is looking at opening in Birmingham, Manchester and Leeds, as well as launching a burger concept.
Four restaurants have remained with receivers Begbies Traynor as part of the restructuring.
By Chris Druce
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