Luxury steak restaurant chain seeks buyers

Thu, 24 May 2018 | BUSINESS SALE

The owner of the Gaucho chain of steak restaurants is hoping to sell up as part of a restructuring plan to save the wider business amid torrid trading conditions in the casual dining sector.

According to Sky News, Gaucho’s board is looking for potential buyers that will be able to put the firm on “sustainable financial footing” as one of many options going forward.

The firm's board drafted in advisors at KPMG earlier this year to look at the possibility of closing or selling 22 of the firm’s Cau restaurants, but has expanded the accountancy’s remit to look at proposals from potential buyers.

Reports also state that the firm may also resort to a company voluntary arrangement in order to exit the Cau estate.

In a statement, a Gaucho spokesman said: "Having completed a strategic review and engaged with key stakeholders, the directors have instructed advisers to commence an options process.

"The process aims to secure a viable long-term structure for the business. This may or may not lead to a sale."

With 16 restaurants around the UK, Gaucho is Britain’s biggest premium steak chain by number of outlets alone. All of these locations will continue to trade throughout the review process.

The company has been enjoying a decent performance in recent months, with management saying it has been performing “in line” with the restaurants sector and is as such is not under threat of closure.

Cau, a separate brand that eschews Gaucho’s Argentinian aesthetic, has seen a double-digit downturn in its most recently reported revenues, citing over-expansion, poor selection of new sites and expensive rent agreements as the chief factors leading to financial difficulties.

Gaucho recently appointed a new management team including Oliver Meakin, formerly of Maplin, in order to arrest the slump, after company founder Zeev Godik stepped down.

The firm is owned in large part by Equistone, a private equity company.


Share this article



Latest Businesses for Sale

High Class Restaurant
UK Wide

It is not often that a restaurant of this quality and profitability comes on the market. The location is in the very heart of the city in a desirable position. There is easy access from parking areas and pedestrian areas alike. The cuisine offered is...

Asking Price: £595,000
Turnover: £800,000

LEASEHOLD


Fast Food Franchisor, Consumables Provider & Equipment Manufacturer
UK Wide

The group offered for sale is heavily involved in the fast food restaurant industry, with services including franchising and the manufacture of catering equipment and consumables. Currently works with 25 wholesalers, who further distribute to circa 7...

Asking Price: Offers Invited
Turnover: £3,930,000

LEASEHOLD


Sushi Restaurant
Sheffield, South Yorkshire, Yorkshire and the Humber, UK

The business currently operates under a managed restaurant business model with a strong team in place and little commitment is needed from the owner, this makes it an excellent opportunity for an established operator looking for an additional site, o...

Asking Price: £295,000
Turnover: £700,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
Jan
 

Sample book and shade card manufacturer acquired from administration | BUSINESS SALE

The business and assets of Yorkshire-based display products ...

 
16
 
Jan
 

Northgate and Redde shareholders approve merger | MERGER

The proposed merger of listed companies Northgate and Redde ...

 
15
 
Jan
 

SSE sells retail business to OVO Energy | DIVISION SALE

Power utility SSE has announced it has completed the sale of...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
18
 
Jul
 

Restaurant group Gaucho on the verge of administration | ADMINISTRATION

Gaucho restaurant group faces going into administration as i...

 
17
 
Dec
 

Travel Counsellors to explore £200m sale | BUSINESS SALE

The owners of Manchester-based holiday planner Travel Counse...

 
12
 
Apr
 

Historic food firm Whitworths is put up for sale | BUSINESS SALE

Whitworths, the 130-year-old maker of dried fruits and nuts,...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources