Deloitte said that given the financial position of the business, it has been necessary for the sale to be facilitated by way of a ‘pre-pack’ administration.
Gavin Maher and Rob Harding, restructuring partners at Deloitte, were appointed joint administrators to the main entities in the group.
Maher said: “We have been working closely with the management team under very difficult market conditions to try and find a funding solution and I am glad to be able to announce the rescue of this well-loved brand together with a large proportion of the sites and workforce. However, it’s clearly disappointing that a number of sites have had to close resulting in today’s redundancies."
Satnam Leihal, managing director of Boparan Restaurant Group 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.”
