Boparan Restaurant Group

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
56.1 - Restaurants and mobile food service activities
340 jobs
Number of planned job losses
Job loss
Announcement Date
4 March 2019
Employment effect (start)
Foreseen end date

Description

Boparan Restaurant Group has announced plans to enter into a company voluntary arrangement (CVA) which will result in the closure of 27 restaurants and the loss of 340 jobs. The group trades under the Giraffe and Ed's Easy Diner brands, and 20 Giraffe restaurants and 7 Ed's Easy Diner restaurants will imminently begin the formal process of consultation over the closures and job losses. The CVA will result in rent reductions for the remaining stores; a spokesperson for the group stated that the CVA was the only option to protect the company for the future. There is no information on when the closures and job losses are expected to take place.

Sources

Citation

Eurofound (2019), Boparan Restaurant Group, Internal restructuring in United Kingdom, factsheet number 97390, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97390.