Fri, 12 Jun 2020 | ADMINISTRATION
The British arm of Belgian bakery chain Le Pain Quotidien has been sold in a deal which will see 10 of its 26 UK locations close. Under the deal, the UK business will be acquired by a subsidiary of BrunchCo21 SA, a newco thought to be linked to Cobepa, a Belgian-based investment firm that is Le Pain Quotidien’s existing backer.
The deal has been structured as a pre-pack administration and will be overseen by professional services firm Alvarez & Marshall. It will involve the closure of the business’ UK head office along with the 10 locations, with job losses likely to number close to 200.
It is reported that the chain plans to undertake talks with landlords over the lease arrangements on its 16 remaining sites over the next few weeks. BrunchCo21 is expected to invest capital in the UK business once the takeover deal has completed. It is also in the process of acquiring Le Pain Quotidien’s French and Belgian operations.
In its most recent accounts, to the year ended December 31 2018, Le Pain Quotidien’s UK business registered turnover of around £37.9 million, down from £39.5 million in 2017, and gross profit of £5.2 million, down from £6.3 million the year prior.
At the time of filing, its fixed assets were valued at £11.3 million, its current assets at £3.5 million and its total assets less liabilities stood at £9.2 million, down from £12.5 million the year before.
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Excellent opportunity to acquire two profitable, very well-presented and ideally located coffee bars in South London.
LEASEHOLD
The business is the only traditional fish and chip shop in the immediate area, and the efficient delivery service is highly popular to the surrounding areas. The business has traded for over 30 years, it offers its customers a traditional range of fr...
LEASEHOLD
Ideally situated on High Street. Bakery, Restaurant & Cafe. Provides Excellent Service & Delicious Meals. Ideal All Year Round Venue. Seating for up to 70 Customers at Once. Offers invited.
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