Wed, 18 Mar 2026 | BUSINESS SALE
A company that operates two Italian restaurants in Glasgow has been acquired out of administration in a deal that safeguards 50 jobs. HMS (883) Limited fell into administration earlier this month as a result of its debts.
The Glasgow-based company owns the popular Italian restaurants Lucali in Giffnock and Andiamo in Milngavie. Despite the company’s directors undertaking efforts to streamline operations, the business was “unable to sustain the historical debt burden”.
Gordon Thomson and Gareth Harris of RSM UK Restructuring Advisory were appointed as joint administrators of HMS (883) Limited on March 5 2026, putting dozens of jobs at risk.
According to the administrators, the business had amassed “significant debts due to losses resulting from ongoing challenges in the hospitality industry.”
However, following their appointment, the joint administrators were able to secure a sale of the business and its assets to GJF Group Limited, in a deal that saw all staff transfer over to the new company.
RSM UK Restructuring Advisory partner and joint administrator Gordon Thomson commented: "We are pleased to have achieved a successful outcome for HMS (883). The sale of the business and its assets not only represents the best outcome for the company's creditors, but also secures 50 regional jobs in the hospitality industry."
In accounts for the year to June 30 2024, HMS (883) Limited’s fixed assets were valued at £2.3 million and current assets at slightly over £203,000, with net assets amounting to around £231,000.
The collapse and subsequent rescue of the company comes amid ongoing pressure on Scottish restaurant operators. Industry body The Scottish Hospitality Group has recently warned that these pressures are set to increase, leading to rising prices, closures and job losses, and has urged better taxation support for Scotland’s restaurants, pubs and clubs.
Find out more about M&A trends in the UK restaurant sector, including the likelihood of significant distressed dealmaking during 2026
This thriving restaurant in Ireland boasts a huge customer base and a strong reputation, situated in a prime location with convenient parking. The business is fully equipped and efficiently run by a capable management team, allowing the owners to be...
An outstanding opportunity to acquire a highly regarded restaurant in the affluent area of Heaton Moor, Stockport, boasting strong repeat trade and a stylish dining environment.
LEASEHOLD
This well-appointed licensed restaurant in Essex offers an excellent high street location with a modern fit-out, including a newly updated open-plan kitchen and added revenue potential from a private function room and spacious outdoor seating area.
LEASEHOLD
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.