Published:
EAT. closes a handful of sites, decides against CVA
The chain approached landlords for individual negotiations.
EAT. reportedly has no current plans for an insolvency process.
According to City A.M., the food and coffee chain averted the need for drastic restructuring by closing a handful of individual sites.
The company previously appointed advisers at KPMG early this year to review its options but has not been consulting with the group “for some time” and is said to have approached landlords for individual negotiations.
The concerns about EAT. potentially pursuing a CVA were raised as KPMG was involved with the company voluntary arrangement (CVA) of Byron, resulting in 20 sites earmarked for closure.
(Photo credit: EAT. Facebook page)
