Who owns bella italia

The company said multiple offers were on the table but buyers did not want to acquire all the existing sites and 91 of its outlets would remain permanently closed.

In total, CDG employs just under 6, people. The private equity-owned CDG had warned in May that administration was on the cards as the lockdown forced the temporary closure of all its sites.

It is yet more bad news in a grim week for the retail and hospitality industries, which are shedding thousands of jobs despite the easing of lockdown restrictions that will allow restaurants and pubs in England to open their doors on Saturday for the first time in more than three months. More than 6, retail job losses were announced on Wednesday alone. Administrators Alix Partners are seeking offers for all, or parts, of the remaining business.

UK firms have announced thousands of job cuts this week as the impact of the pandemic on the economy continues. Casual Dining Group, which also owns the Las Iguanas chain, applied in May to appoint administrators at the High Court as it found it increasingly hard to pay its rents. On Thursday, the firm said it had already received "multiple offers" for the business and hoped to pursue these.

The restaurants that are closing are mainly located in England, with some in Scotland and Wales. Restaurants in the UK were struggling even before the pandemic, but their revenues collapsed when the UK went into lockdown in March.

Fund II has committed further financial resources to The Big Table, the new company through which the acquisition has been made, to fund working capital and investment requirements. Prior to Covid, Casual Dining Group was one of the largest restaurant groups in the UK, and for many years operated some of the most recognisable brands in the market.

The business has been entirely funded by Epiris, with no additional third-party debt, providing a strong foundation for its future growth. A non-executive Chairman will be appointed in due course.

We will work with James and his team to re-open the restaurants, bringing over 4, people off furlough to enable customers to enjoy dining out again.