Carluccio’s working with restructuring experts KPMG to assess options

Italian restaurant chain Carluccio’s is working with advisors from KPMG to assess its options as casual dining continues to suffer. 

easid-504988-media-id-33517-445-250The news comes just days after Prezzo revealed plans to close 94 sites as it pursues a Company Voluntary Agreement.

Carluccio’s which has 102 sites across the UK is believed to be assessing restructuring options, The Sunday Times reported.

Carluccio’s was co-founded by chef and restauranteur Antonio Carluccio, who died in November at the age of 80 and is owned by the Dubai-based Landmark Group.

In the year to 25 September 2016 revenue at Carluccio’s increased by 2.7% to £140m but pre-tax profit was £982,000, down from £5.2m thanks to £4m of exceptional costs related to impairment charges for assets.

Carluccio’s is the latest restaurant to be hit by tough trading conditions affecting the casual dining sector, and the news follows recent announcements that Jamie’s Italian and burger chain Byron have entered into CVAs.

Carluccio’s told The Sunday Times: “There are currently no plans to restructure.”


Source: click here