Sky News reported on Friday that private equity group Carlyle is looking to buy out struggling restaurant chain Gaucho.
It reports that the American giant had ‘gatecrashed’ the auction of Gaucho, which has a 16-strong UK portfolio, with a cut price bid to take the restaurant chain out of administration.
The bid comes just weeks after it discharged a substantial debt position it held in Prezzo, another UK restaurant chain in dire straits.
Sky reported that The Carlyle Group was among a small number of bidders for Gaucho, which went into administration last month after its CAU chain amassed a loss of millions following bad trading.
Sources close to the Gaucho administration process told Sky that there was some confidence that the chain would find a buyer and hopefully preserve many of the 1,300 jobs that are at risk.
Carlyle has invested in a number of restaurant chains around the world and holds a stake in the master franchisee responsible for McDonald’s businesses in China, Hong Kong and Macau.
It also backs Alamar Foods which is the master franchisee for Domino’s Pizza across North Africa and the Middle East.
Carlyle declined to comment about Friday’s rumours.