Wed, 01 Apr 2020 | ADMINISTRATION
Sheffield-based cafe chain Massarella Gelaterie Ltd has been placed into administration by its parent company, leading to the closure of its 32 outlets.
All 32 outlets operated in House of Fraser stores, employing 340 staff. Director Daniella Massarella confirmed that the administration followed the cafes’ closure on March 20, under government guidelines.
Andrew Nichols and John Butler of Redman Nichols Butler have been appointed joint administrators for the business, with a spokesperson saying: "Regrettably due to the current health and economic crisis, Massarella Catering Group Ltd was left with no other option other than to appoint administrators over Massarella Gelaterie Ltd.”
In its most recent accounts, for the year ending December 31 2018, Massarella Gelaterie Ltd declared turnover of £13.7 million, down from £15.1 million for the year prior. At that time, the company had current assets of £1.75 million, down from close to £3.75 million the year before.
The administrators confirmed that parent company Massarella Catering Group Ltd and its remaining subsidiaries would be unaffected by the administration.
Massarella Catering Group is a family run business that traces its origins to an ice cream business founded in 1864 by Italian émigrés to Sheffield. Prior to the coronavirus epidemic, the group operated over 120 cafes and restaurants throughout the UK. Its other brands include Cafe Zest, Angelica’s Tea and Cake and Caffe Botanico.
View the latest distressed UK businesses here.
Discover a charming village pub restaurant nestled in the picturesque landscapes of Oxfordshire, offering a unique opportunity to own an establishment rich in character and appeal.
LEASEHOLD
Discover a thriving community pub in a bustling residential suburb of Warwickshire, ideal for those looking to make a mark in the hospitality industry.
LEASEHOLD
Charming riverside pub restaurant in a popular hamlet, perfectly situated near leisure attractions, camping, caravan parks, and waterside activities in Nottinghamshire.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.