Wed, 27 Jun 2012 | ADMINISTRATION
Town Centre Restaurants, the firm behind Café Giardino, the Auberge restaurants and Azzuro bars, has been bought in a pre-pack administration.
The restaurant operator, which runs its branded outlets in shopping centres, brought in administrators from Zolfo Cooper after it was decided that the firm could not pay its debts in a strategic review.
Options explored in the review included possible new investment to assist in improving its performance. News reports stated that for the year to 30 January 2011 Town Centre Restaurants reported a £5.98 million pre-tax loss, with a fallen revenue figure of £21.4 million.
Now 22 of the firm’s 38 outlets have been purchased by a newly created company established by the existing management and headed by chief executive Mark Winter. The deal is backed by its lender Clydesdale.
The restaurant operator ran over 50 eateries at its height, with two in The Glades in Bromley and three at the Lakeside shopping centre in Essex.
Town Centre Restaurants was established in 1992 from one Café Giardino in Bromley, offering freshly prepared breakfasts, baked potatoes, salads and pasta.
Operating across North Yorkshire, the company has two divisions, one that provides IT infrastructure and one offering renewable energy solutions, including solar PV systems and electric vehicle charging points.
The group specialises in supplying and installing UPVC windows, doors and conservatories in a wide array of styles. Bespoke bathroom panelling and high-quality guttering products are also provided by the two companies.
The company is a well-regarded specialist provider of hygienic wall, floor, and ceiling cladding systems. To complement its core supply of PVC cladding, the business offers hot welded joints to prevent the build-up of bacteria and can supply stainles...
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