Landmark Announced Investment in Carluccio's Rescue Plan
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
    About:as the name suggests, Dhadoom is a fun brand by..
    Locations looking for expansion -NA-
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size USD 50,000 - 100,000
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-
  • Laundry & Dry Cleaning
    About u clean At UClean, we are building India's first organized..
    Locations looking for expansion -NA-
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size USD 50,000 - 100,000
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-
  • PG Services
    PREMIMUM HOSTEL ACCOMMODATION OFFERING SGL, DOUBLE, TRIPLE OCCUOANCY ROOMSUHostels aims..
    Locations looking for expansion -NA-
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size
    Space required 35000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater East Delhi -NA-
  • Certification course coaching
    About Us:Digiperform looks forward to expanding presence on a pan-india..
    Locations looking for expansion -NA-
    Establishment year 2014
    Franchising Launch Date 2017
    Investment size USD 50,000 - 100,000
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New Delhi -NA-