Casual Dining Group rebrands at The Big Table after emerging from administration
The new business will be led by the existing management team under CEO James Spragg.
Casual Dining Group (CDG) has officially been bought out of administration by private equity firm Epiris, preserving more than 4,000 jobs across the UK and over 150 restaurants under the Las Iguanas, Bella Italia and Café Rouge brands.
The new business, through which Epiris has made the acquisition, is to be called The Big Table and will be led by the existing management team under CEO James Spragg.
The Big Table moniker is described as a reference to a “far-reaching internal culture programme at the former CDG business that championed togetherness, diversity and inclusivity amongst all members of its business.”
Epiris said it has invested significant cash into the business to help “spark a rapid unlocking” of the group’s operations, with its restaurant businesses starting to reopen across the UK in the next weeks. It has also made a further commitment for future funding and said the new business will carry no external debt.
“This is a very positive outcome for the business. We are delighted to have concluded this process and to be working with such experienced and knowledgeable investors. We inevitably emerge from this process as a leaner business, and one that is now equipped to navigate the challenges the industry faces, safeguarding thousands of jobs,” Spragg said in a statement.
AlixPartners also said it had received a “significant” level of interest in the group after news of its administration emerged.
Clare Kennedy, director of AlixPartners, said: “We are extremely pleased to have been able to help the group find a new investment partner with such strong industry credentials and we wish both parties and everybody who works at The Big Table all the very best for a successful future.”
The terms of the transaction were not disclosed.
CDG entered administration at the start of July, closing 91 of its sites and making 1,900 staff redundant.
