Email: info@franchise.ae
 
Search Business Opportunities
Jun, 01 2018

Landmark Announced Investment in Carluccio's Rescue Plan

This will allow them to close loss-making branches, after more than 90 percent of creditors approve the plan.

Landmark Announced Investment in Carluccio's Rescue Plan

Dubai's Landmark Group has announced investment of £10 million ($13.2 million) on Italian Restaurants chain Carluccio’s as part of a rescue plan.

Carluccio's on urge of closing up to 30 restaurants in the rescue plan under a Company Voluntary Arrangement (CVA). This will allow them to close loss-making branches, after more than 90 percent of creditors approve the plan.

The investment by Landmark, which agreed in September 2010 to buy Carluccio's in a transaction that, valued the UK operator of Italian restaurants and food stores at more than £90 million will be used to upgrade the surviving outlets.

The 103-strong chain is losing its battle against higher costs and increased competition.

Mark Jones, Chief executive, “The business is not immune from well-documented pressures sweeping through the casual dining sector and indeed much of the wider UK high street, including retail.”

“Regrettably, this is the only course of action available and if approved, will safeguard the future of the group, protecting this strong core business.”

Carluccio’s was founded by Antonio Carluccio and his then wife Priscilla in 1998. Carluccio, sold his business to Dubai’s Landmark Group seven years ago, and Carluccio acted as a consultant to them.

Comment
User
Email
Star
Address
Related opportunities
  • Quick Service Restaurants
    A large slice of the industry We use high quality ingrdients..
    Locations looking for expansion -NA-
    Establishment year 2011
    Franchising Launch Date 2015
    Investment size USD 50,000 - 100,000
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-
  • Financial Investment & Trading
    Start a profitable business in the market of cryptocurrencies, ICO..
    Locations looking for expansion -NA-
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Up To USD 50,000
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater moscow -NA-
  • Ayurvedic, Herbal & Organic Products
    About:OMORFEE, an Indo – German venture of Bioruns Private Limited,..
    Locations looking for expansion -NA-
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size USD 50,000 - 100,000
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi -NA-
  • About: Akums Drugs & Pharmaceuticals Ltd, Haridwar, (India) is the largest contract..
    Locations looking for expansion -NA-
    Establishment year 2004
    Franchising Launch Date 2017
    Investment size USD 500,000 - 1,000,000
    Space required 120
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi -NA-