Brasserie - case study
Trading Administration of a prominent brasserie, resulting in the sale of the business and leasehold, whilst securing full repayment of all creditors.
- Sector – Hospitality & Leisure
- Turnover - £0.8m
- Number of employees - 15
Situation
Stakeholder fallout resulted in trading uncertainty and downturn in trade, resulting in a petition for Administration.
Approach
Appointed Administrators over a company that operated a prominent brasserie, trading from leasehold city-centre premises. Managed difficult relationships between stakeholders whilst stabilising the business and implementing a trading strategy to facilitate a sale as a going concern.
Following a national marketing campaign, the leasehold business was sold in month 5 to a national operator.
Exited Administration via a CVA.
Impact
Following a profitable trading period, the brasserie was sold as a going concern resulting in all creditors being repaid in full and all jobs saved.
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