Administrators for Dining Street Limited – owner of several restaurant brands including Richoux – are inviting bids for the business following its collapse.
Dining Street operates 15 restaurants predominantly across London and the south of England, including Richoux, Zintino, Friendly Phil’s, Villagio and The Broadwick.
All of the group’s sites have been closed for dine-in services since 20 December in line with the government’s Tier 4 Covide-19 restrictions, with a handful of sites continuing to provide takeaway and delivery services.
However, with ongoing uncertainty around when restrictions will be lifted and with the companies continuing to accrue liabilities, the pressure on the cash position forced directors to put the business into administration.
Following the appointment of KPMG, all 147 members of staff have been made redundant.
Will Wright, partner at KPMG and joint administrator, said: “The current plight of the UK’s hospitality sector cannot be underestimated. Despite the breadth of support packages available, the reality is that the latest lockdown measures have proven to be a hammer blow for many businesses which, like the Dining Street group of companies, continue to accrue creditor liabilities while seeing little to no revenues coming in.
“The group had a number of popular brands and outlets, and so we are currently exploring options for a sale of the business and its assets. We would like to invite any interested parties to contact us as soon as possible.”