Search
The Caterer

Las Iguanas and Bella Italia owner appoints advisers

18 May 2020 by
Las Iguanas and Bella Italia owner appoints advisers

The owner of the Las Iguanas, Café Rouge and Bella Italia brands has appointed financial advisers with all restructuring options understood to be on the table.

Casual Dining Group (CDG), which operates around 250 UK restaurants, will work with AlixPartners to determine how it can best emerge from the coronavirus crisis. All options, such as negotiations with landlords and potential site closures, are understood to be under consideration.

A spokesperson for CDG said: "As is widely acknowledged, this is an unprecedented situation for our industry and, like many other companies across the UK, the directors of Casual Dining Group are working closely with our advisers as we consider our next steps."

A further announcement is expected in the coming days.

Several casual dining groups, including the Restaurant Group have looked to raise finance to ensure they can emerge from this period of enforced closure and suggested that they may not reopen all sites when restrictions are lifted.

The sudden closure and subsequent loss of income has already forced several restaurant groups into administration, including Carluccio's and Benito's Hat.

Photo: Shutterstock

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.