Two stores operated by artisan pizza company Pi Pizza have been saved from closure after a deal was brokered that will see the company taken over by Bluberri Limited.
The takeover by the restaurant business will see 27 jobs saved, with the company having been in severe financial difficulties.
It was placed into administration on July 29, with after Simon Lowes and Ian Defty from insolvency and restructuring firm CVR Global serving as the firm’s administrators.
The firm’s second store had only been opened last year, but the restaurant had been unable to reach forecast sales.
Administrator Simon Lowes said: “We have all seen evidence of financial difficulties with household brands within the casual dining sector and our appointment as Administrators further demonstrates continued pressures within this industry”.
“Attracting customers consistently requires substantial investment in areas such as marketing and product development. We are pleased to have secured a buyer that has experience of operating in this sector and with continued investment, Pi Pizza has long term potential as an affordable, artisan pizzeria.”