Thu, 24 May 2018 | BUSINESS SALE
The owner of the Gaucho chain of steak restaurants is hoping to sell up as part of a restructuring plan to save the wider business amid torrid trading conditions in the casual dining sector.
According to Sky News, Gaucho’s board is looking for potential buyers that will be able to put the firm on “sustainable financial footing” as one of many options going forward.
The firm's board drafted in advisors at KPMG earlier this year to look at the possibility of closing or selling 22 of the firm’s Cau restaurants, but has expanded the accountancy’s remit to look at proposals from potential buyers.
Reports also state that the firm may also resort to a company voluntary arrangement in order to exit the Cau estate.
In a statement, a Gaucho spokesman said: "Having completed a strategic review and engaged with key stakeholders, the directors have instructed advisers to commence an options process.
"The process aims to secure a viable long-term structure for the business. This may or may not lead to a sale."
With 16 restaurants around the UK, Gaucho is Britain’s biggest premium steak chain by number of outlets alone. All of these locations will continue to trade throughout the review process.
The company has been enjoying a decent performance in recent months, with management saying it has been performing “in line” with the restaurants sector and is as such is not under threat of closure.
Cau, a separate brand that eschews Gaucho’s Argentinian aesthetic, has seen a double-digit downturn in its most recently reported revenues, citing over-expansion, poor selection of new sites and expensive rent agreements as the chief factors leading to financial difficulties.
Gaucho recently appointed a new management team including Oliver Meakin, formerly of Maplin, in order to arrest the slump, after company founder Zeev Godik stepped down.
The firm is owned in large part by Equistone, a private equity company.
On the market a rare riverside pub restaurant located in popular hamlet near leisure, camping, caravan, park homes and waterside activities.
Substantial community pub with food in a thriving locale, offering a lounge diner, large bar and further outdoors space.
LEASEHOLD
This is a staggering historic tavern and diner, operates year round under management, with an attractively flexible lease.
LEASEHOLD
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
28
|
Apr
|
WHP makes third acquisition in a month | BUSINESS SALE
WHP Telecoms has continued its recent acquisition spree with...
14
|
Apr
|
PE-backed telecoms group continues on acquisition trail | BUSINESS SALE
WHP Telecoms, which is backed by private-equity firm Equisto...
18
|
Mar
|
Middle East manufacturing group makes biggest UK investment with acquisition of historic paint company | BUSINESS SALE
Middle East manufacturing group makes biggest UK investment ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.