The Gaucho Group management team has confirmed that for the company’s 16 Gaucho restaurants, it’s ‘very much business as usual’.
The announcement follows the news that Gaucho had begun to struggle financially and had deemed it necessary to appoint an administrator, after its sister brand CAU closed its branches.
This week, rumoured takeover bids for the Gaucho chain had come from American buy-out firm Carlyle and UK-based restaurant veteran Luke Johnson, who both showed interest earlier in the Argentine restaurant group.
CEO of Gaucho Group, Oliver Meakin confirmed today that he was talking to potential buyers and also identified that there are more locations where he thinks Gaucho would prosper.
He said: “There has been some confusion, even within the hospitality industry, of the exact status of the Group, and we would like to set the record straight. All 16 of our UK Gaucho restaurants are open.”
He went on to add: “We are continuing to trade through the administration period, supporting our administrators Deloitte LLP, and are confident of an exciting sale of the Gaucho restaurants within the next two to three weeks.”
The announcement then confirmed that over the next few weeks, Gaucho will undertake a strategic communications campaign, led by Gaucho marketing director Matt Ford, to ensure the ‘business as usual’ message reaches the 16,000 guests who visit Gaucho each week.
Meakin then went on to acknowledge the potential buyers for the Gaucho restaurants. He said: “We are talking to potential buyers about future UK expansion, as we believe there are a least a further six locations where Gaucho would trade successfully.”
He added: “We also believe that Gaucho could trade successfully in Western Europe with openings under our management. In addition, prior to the sale process, we were discussing a number of franchise opportunities in the Middle East with a local business partner.”