Chilango in talks of restructuring: report
The talks came after the chain raised £5.8m from selling its so-called “Burrito Bonds”.
Chilango has confirmed restructuring talks with firm RSM after earning millions from its bond scheme.
The Mexican restaurant chain told City A.M. that they have engaged RSM “to assist on long-term planning, options and strategy” for the company.
According to the report, the burrito chain’s “Burrito Bonds”” has raised £5.8m from around 1,500 investors. The bonds, which offer high interest rates, had more than 700 investors to stake when it was first introduced in 2014.
Meanwhile, the report also noted the chain’s overdue accounts with Companies House, which a spokesperson said is getting “out as soon as possible.”
The burrito chain runs 12 restaurants in London, Manchester and Birmingham.
Read the full report here.
