Carluccio's

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Hotel / Restaurants
Accommodation And Food Service Activities
Food And Beverage Service Activities
56.10 - Restaurants and mobile food service activities
500 jobs
Number of planned job losses
Job loss
Announcement Date
31 May 2018
Employment effect (start)
Foreseen end date

Description

Restaurant chain Carluccio's has become another major business to enter into a company voluntary arrangement (CVA). The restructure deal, which has been approved by 91% of the business's creditors, will allow rent reductions in remaining sites. The restructure will result in the closure of 30 outlets with the loss of approximately 500 jobs. The company blames the market saturation as the key reason to the restructuring.

There is little information available as yet as to which sites will be closed or to what timescale, though some reports of individual restaurant closures have started to emerge.

Sources

  • 31 May 2018: The Independent
  • 1 June 2018: Manchester Evening News

Citation

Eurofound (2018), Carluccio's, Internal restructuring in United Kingdom, factsheet number 94418, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94418.