The restaurant group Gaucho is preparing to file for administration, putting 1,500 jobs at risk.
The owner of the Gaucho and Cau brands is the latest victim of the intense pressure on the high street, which has cost 35,000 jobs in the retail and casual dining sectors this year. The group filed a notice of intent to appoint Deloitte as administrator on Wednesday, a legal process which gives the company 10 days protection from creditors, as first reported by Sky News.
The Argentine-themed restaurant group had been in last-ditch talks with potential buyers understood to include Hugh Osmond, the former Pizza Express backer, Gauchos existing management team backed by Core Capital, part of the private equity firm ESO Capital, as well as…
Read the full article at: https://www.theguardian.com/business/2018/jul/18/gaucho-to-file-for-administration-with-1500-jobs-at-risk