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casual dining group administration

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[18] In September 2014, Tragus sold Strada to Sun Capital Partners. [37] It reduced its energy consumption by 17% from 2012 to 2016,[38] and had a partnership with The Prince's Trust charity. [14] In July, Tragus signed a deal with Center Parcs to operate several Bella Italia and Café Rouge restaurants in the leisure village operator's UK sites. [29], On 18 May 2020, during the COVID-19 pandemic, CDG announced that it was working with advisors on next steps for the business as a prudent measure to protect the company whilst planning for the future.

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The company was backed by investors including KKR and Pemberton Capital Advisors. [20] In July 2015, CDG acquired Las Iguanas[21] and later went on to purchase La Tasca. You may not agree with our views, or other users’, but please respond to them respectfully, Swearing, personal abuse, racism, sexism, homophobia and other discriminatory or inciteful language is not acceptable, Do not impersonate other users or reveal private information about third parties, We reserve the right to delete inappropriate posts and ban offending users without notification. The team included Gavin Williams, managing director of Bella Pasta, and Harry Morley, former finance director of Whitecross Dental Care.

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Casual Dining Group had fallen into administration in early July, immediately announcing the closure of 91 of its around 250 sites, with the loss of 1,909 jobs. [26][27] Also in 2018, Apollo sold its stake in the group to Kohlberg Kravis Roberts and Pemberton Capital Advisors (the two had provided loan finance since 2015).


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Hotel giant Travelodge is at a turning point for its survival – how will its landlords vote? In 2020, Casual Dining Group policy was that all customer cash tips and service charges were kept by restaurant employees in full.[46][a]. Please continue to respect all commenters and create constructive debates. [43], In 2009 Tragus was the subject of newspaper reports highlighting the practice of several UK restaurant chains using customer tips to meet minimum wage laws for waiters/waitresses.
[19], In March 2015, Tragus Holdings rebranded as Casual Dining Group (CDG). Tags : administration Casual Dining Group operators The Big Table. Last week Rooney Anand announced he would step down from his position as chairman of Casual Dining Group after less than two years in the role. Related tags: This website uses cookies to improve your experience. dataLayer.push(dataLayerNews);

Casual Dining Group (CDG) is reportedly preparing to place one of its three core restaurant brands into administration as part of a radical financial restructuring of the business. function sanitize_gpt_value2(gptValue) Jacobs Media Group Limited is a company registered in England and Wales, company number 08713328. We also use third-party cookies that help us analyze and understand how you use this website.
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Working alongside the Administrators we will do everything we can to support them through this process with a view to preserving as much employment as we are able to.”, Joint Administrator Clare Kennedy, of Alix Partners, said: “We appreciate that this is an extremely difficult time for all those associated with Casual Dining Group. Casual Dining Group files for administration . Casual Dining Group (CDG), which operates a range of mid-market restaurant brands including Las Iguanas, Bella Italia and Café Rouge, has collapsed into administration, with the … When tips or service charge are paid for by a credit card or debit card, the company makes a 2.5% administration charge to cover bank fees, before distributing the remainder in full to employees. The company's business model was said to depend on paying servers as little as £2.50 an hour, with the rest coming as tips. You can find our Community Guidelines in full here. Casual Dining Group confirms intention to appoint administrators after being battered by coronavirus lockdown, Find your bookmarks in your Independent Premium section, under my profile. They were discovered (via "mystery diners") informing customers of the company's policy. [7] Tragus Holdings was led by chief executive Finlay Scott, formerly head of the Aroma Café chain and Whitecross Dental Care.

The board and its advisors have received 'multiple offers' for the business, and the administrators will now seek to progress these. if(i!=(aTags.length-1)) The move comes at a time when the already hard hit casual dining sector has had to contend with shut down during the Covid-19 pandemic, deepening the woes of many operators. ", Spragg added: "This is a very positive outcome for the business. In January 2005, Tragus' directors sold the company to Legal & General Ventures for £90m-£95m. It is understood the group has seen profitability improve since it agreed a refinancing deal with US private equity firm KKR in 2018. We are acutely aware of our duty to all employees and recognise that this is an incredibly difficult time for them.

The Casual Dining Group – owner of Cafe Rouge, Bella Italia and Las Iguanas – has entered administration. Subscribe The company was backed by investors including KKR and Pemberton Capital Advisors. Casual Dining Group operates 250 sites nationwide and 91 … We are extremely pleased to have been able to help the group find a new investment partner with such strong industry credentials and we wish both parties and everybody who works at the Big Table all the very best for a successful future.". The Issa brothers, founders and co-CEOs ofEG Group, and investment funds managed byTDR Capital, have together agreed to acquire a majority stake inAsda,Walmart’s wh ... Trei Real Estate GmbH is launchingits 19th retail park under the Vendo Park brand in Poland. [44] The company reportedly instructed restaurant managers to pressure servers to avoid encouraging customers to give tips in cash, which would not count as part of wages, and was threatening to sack employees who failed to produce a sufficient volume of card-based gratuities. [10], In December 2006, Tragus was bought by Blackstone Group for £267m. It is the responsibility of those receiving cash tips to declare the income for tax purposes to HM Revenue & Customs. [28] Some La Tasca restaurants were converted to other brands, and the remaining four La Tasca restaurants were sold in February 2020. The owner of Bella Italia and Café Rouge has filed a notice of intent to appoint administrators, putting the future of 6,000 workers in doubt. Looking for a Home-working solution that is tailored to you? fallen into administration in early July, Rooney Anand announced he would step down from his position as chairman of Casual Dining Group, AlixPartners CGA Peach Market Growth Monitor. The closures, which are spread across the group's various brands, will impact 1,909 employees in CDG's 5,959-strong workforce. “These notifications are a prudent measure in light of the company’s position and the wider situation. Make sure you're logged in and subscribed to view each edition. CDG's collapse into administration has come during the most turbulent period in Britain's casual dining industry, with hundreds of thousands of jobs at risk as a consequence of the pandemic. On Monday 18 May a notice of intention to appoint administrators was filed to buy some time in … - Last updated on These cookies will be stored in your browser only with your consent. You can also choose to be emailed when someone replies to your comment. Want an ad-free experience?Subscribe to Independent Premium.

We are delighted to have concluded this process and to be working with such experienced and knowledgeable investors. CDG operated restaurants primarily under the Bella Italia, Café Rouge and Las Iguanas names. We'll assume you're ok with this, but you can opt-out if you wish. “These notifications will also protect the company from any threatened potential legal action from landlords while we review the detail of the government advice and formulate a plan for the company in these difficult times.”. This transaction will enable the business to trade through the uncertain months ahead and invest in its three strong brands to deliver an even better experience for their customers. This website makes use of Cookies to enhance your browsing experience and provide you with additional functionality. Become an independent Inspire travel homeworker.... £26000 - £29000 per annum + Benefits!

By that time, the business had grown to 163 restaurants. Reports suggest the company – the UK’s second largest midmarket dining collective behind TRG – has already received multiple offers for the business.

[25], However, efforts to close loss-making outlets and stem group losses continued through to 2018.

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