Tue, 01 Nov 2011 | ADMINISTRATION
The popular London Spanish-themed chain of restaurants, Café & Tapas, has fallen into administration after experiencing severe cashflow difficulties.
The company - which operates four restaurants across the capital - has called in administrators from the financial services firm, Leonard Curtis Business Solutions. They have embarked on an extensive review of the company's options and are looking at releasing the group's assets.
One of the joint administrators, Alex Cadwallader, said that it was unfortunate that the company was experiencing hard times in the UK, as its international operations were particularly strong.
"The brand and business model has been and continues to be very successful in Spain, and this UK company had hoped to replicate that," he explained. "However, this has not proved to be the case despite significant support from the shareholders."
Café & Tapas was first launched in London in 2009, through a licence agreement with the Spanish parent company, Café & Te. The branches of the restaurant In Bankside, Piccadilly and Kings Cross have ceased trading with immediate effect. The branch on London's Regent Street is continuing to trade as normal, however, as it is owned outside the group.
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