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22 May 2020 10:42

Ed's Easy Diner Giraffe World Kitchen Boparan Holdings

1,000 jobs to go as Carluccio’s bought in rescue deal by Giraffe owner

Sign up to FREE email alerts from Mirror - The Coronavirus Briefing Subscribe Thank you for subscribing We have more newsletters Show me See our privacy notice Invalid Email Dining chain Carluccio's has been bought in a rescue deal which will save 30 of its restaurants but result in more than 1,000 job losses, administrators have announced. The Italian restaurant has been sold to Giraffe and Ed's Easy Diner owner Boparan Restaurant Group, in a deal that has saved dozens of restaurants and around 800 jobs. However, administrators FRP Advisory said the move has also resulted in the redundancy of 1,019 Carluccio's employees after it was unable to secure the future of the chain's other 40 restaurants. Phil Reynolds, joint administrator and partner at FRP, said: "The Covid-19 lockdown has put incredible pressure on businesses across the leisure sector, so it has been important to work as quickly and as decisively as possible in an extremely challenging business environment to secure a sale which ensures the future of the Carluccio's brand in the UK casual dining scene retains a significant network of sites across the country and, critically, transfers a considerable number of jobs. The Italian restaurant, which has 71 restaurants across the UK, appointed administration experts FRP Advisory, following a "sustained period of challenging trading conditions", which, it said, had been exacerbated by COVID-19.

Geoff Rowley, joint administrator and partner at FRP, said: "We are operating in unprecedented times and the issues currently facing the hospitality sector following the onset of Covid-19 are well documented. A total of 30 Carluccio's restaurants have been saved in a partial rescue by a national leisure group – but the Newcastle restaurant is not part of the deal. Boparan Restaurant Group – the owners of Ed's Easy Diner and Giraffe – has saved the restaurants and around 800 jobs in the deal overseen by administrators FRP Advisory. But the move has resulted in 1,019 Carluccio's employee redundancies after it was unable to secure the future of the chain's other 40 restaurants, which includes the Grey Street site. However, in March this year the Italian restaurant chain, which was founded by chef Antonio Carluccio 20 years ago, confirmed it had appointed administration experts FRP Advisory, putting the future of 2,000 jobs at risk.

Phil Reynolds, joint administrator and partner at FRP, said: "The Covid-19 lockdown has put incredible pressure on businesses across the leisure sector, so it has been important to work as quickly and as decisively as possible in an extremely challenging business environment to secure a sale which ensures the future of the Carluccio's brand in the UK casual dining scene retains a significant network of sites across the country and, critically, transfers a considerable number of jobs. "We wish the team all the best as part of the Boparan Restaurant Group (BRG)." Carluccio's has been bought in a rescue deal which will save 30 of its restaurants but result in more than 1,000 job losses. The dining chain has been bought by Giraffe and Ed's Easy Diner owner Boparan Restaurant Group (BRG) in a move which will save 800 jobs. However, administrators FRP Advisory said it was unable to secure the future of Carluccio's 40 other restaurants, resulting in 1,019 redundancies. The Italian chain – which was founded by Antonio Carluccio in 1991 – slid into administration in March after the impact of coronavirus exacerbated the firm's long-standing financial difficulties.

Carluccio's had been owned by Dubai-based Landmark Group, which bought the business for £90 million in 2010. Phil Reynolds, joint administrator and partner at FRP, said: "The Covid-19 lockdown has put incredible pressure on businesses across the leisure sector, so it has been important to work as quickly and as decisively as possible in an extremely challenging business environment to secure a sale. "It ensures the future of the Carluccio's brand in the UK casual dining scene, retains a significant network of sites across the country and, critically, transfers a considerable number of jobs." "Whilst it is an extremely challenging time for the sector, we believe quality hospitality businesses will recover in the long term as people return to eating out." Outside of the administration process, BRG also acquired Carluccio's Dawson Street site in Dublin. Even before the Covid-19 crisis the chain was suffering like others in the casual dining business and had to close 35 restaurants in 2018 More than a thousand furloughed workers at the Carluccio's restaurant group have lost their jobs after the closure of 40 of its 71 outlets by administrators. Boparan Restaurant Group (BRG), which owns the Giraffe and Ed's Easy Diner chains, has acquired the Carluccio's brand and 30 restaurants across the country for a knock-down price estimated at £3 million.

Administrators from FRP Advisory said that the deal with BRG, part of Ranjit Singh Boparan's food empire, would save more than 800 jobs. The Carluccio's in Dublin was also acquired by Boparan, but was not part of the FRP administration. FRP said that it was working closely with the Redundancy Payments Service to ensure that the staff affected Carluccio's has been bought by Giraffe and Ed's Easy Diner owner Boparan Restaurant Group (BRG) in a move which will save 800 jobs. However, administrators FRP Advisory said it was unable to secure the future of Carluccio's 40 other restaurants, resulting in 1,019 redundancies. Phil Reynolds, joint administrator and partner at FRP, said: "The Covid-19 lockdown has put incredible pressure on businesses across the leisure sector, so it has been important to work as quickly and as decisively as possible in an extremely challenging business environment to secure a sale.

"It ensures the future of the Carluccio's brand in the UK casual dining scene, retains a significant network of sites across the country and, critically, transfers a considerable number of jobs." "Whilst it is an extremely challenging time for the sector, we believe quality hospitality businesses will recover in the long term as people return to eating out." The Italian chain – which was founded by Antonio Carluccio in 1991 – slid into administration in March after the impact of coronavirus exacerbated the firm's long-standing financial difficulties. Carluccio's had been owned by Dubai-based Landmark Group, which bought the business for £90 million in 2010.

Comments

jonathandavies May 22 2020 10:51
1,000 jobs at Giraffe owner will go. Giraffe owner says he won't sell. @ABC7NY pic.twitter
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If the answer is yes, then I think the business will be successful. You will have a lot of people coming to the market, which will help. Do you think it will happen? I think so. What do you think of the way the market is moving? The market has changed a lot. How can we build a new market? We have to build a new product to speak a new language
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Mohammad Wilkinson May 22 2020 11:16
Also Read: New Delhi: Giraffe is set to be the first ever vegan restaurant in the country. The restaurant chain has been in the news in India for having a vegan menu at its restaurants. Giraffe was the first Indian restaurant chain to introduce vegan menu at its restaurants. According to Giraffe, the offer makes all of its customers feel 'vegan in a warm and homey way'
Dennis Smith May 22 2020 11:21
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Hugh Wilson May 22 2020 11:31
"I'll be happy to see the investment in the restaurant," he said. "The restaurant is in need of some investment so we will help them." Bessi and his father, Luigi, have owned the restaurant since 1987, when they bought it from three brothers. They said they have never seen a profit, which lends credence to the claim that they are technically the responsible party for the restaurant bankruptcy
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Diana Collins May 22 2020 11:41
"I'm never happy with a deal like this. I'm also not sure that it's the best business decision ever. I know that that's true, but I also know that it's ridiculous. It's very difficult to find a buyer for these kind of businesses
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Amanda Morris May 22 2020 12:06
—Achal Singh, San Francisco SG: I think it's a great move by Giraffe, and I think it's a great move by the owners of Giraffe. I think it's a good move on their part to buy into the rescue program, especially since they didn't have the capital to buy into the team. I think it's a good move on their part to buy into the rescue program because they're creating a good job base for the future
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Joel Williams May 22 2020 12:26
I think the idea of a 1,000 jobs package is the best idea in the world. It's a great solution for everyone. It's a great solution for the 11,000 people affected and it's a great idea in terms of the overall economy, and it's a great solution for the region. It's an amazing opportunity for Giraffe. It's great for the surrounding area
Dr. Darren Stanley May 22 2020 12:31
Although the round of layoffs at Carluccio's is likely to come at the end of the month, it seems to be the start of a broader restructuring at the company. "We are trying to make sure we are in a good position to weather this storm," said a company spokesperson. "We are in a very difficult situation," said Giraffe CEO Stephanie Carlucci. "We are going through a transition right now
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