Casual Dining Group exploring potential sale
The company filed a notice of intention to appoint administrators last month.
Casual Dining Group (CDG), the parent company of the Bella Italia, Cafe Rouge and Las Iguanas restaurant brands, confirmed it has been receiving interest from multiple parties over a potential sale of their business.
"On 18th May, as a protective measure, the company filed a Notice of Intention (NOI) to Appoint an Administrator. This is an unprecedented situation for our industry and, like many other companies across the UK, we have been working closely with our advisors to consider our next steps,” a spokesperson for CDG said in a statement.
"While in the protective period following the filing of our NOI, Casual Dining Group has received strong expressions of interest from interested parties, both trade buyers and investors, regarding a potential sale of the business. This is one of a number of options that we are considering as we formulate a plan for the company,” the statement added.
CDG previously confirmed that it is working with advisers from corporate finance firm AlixPartners over a potential restructuring programme aimed at putting the restaurant group on a sustainable footing.
"We recognise that this is a very difficult time for our employees and we will do everything we can to support them through this period of uncertainty,” CDG’s spokesperson concluded.
