Fri, 25 Nov 2011 | DIVISION SALE
The company behind the Brasserie Gerard and Bertorelli restaurant brands, Paramount Restaurants, is understood to have entered administration.
Industry publication BigHospitality has reported that the group was placed into administration on Wednesday night this week, shortly after the company agreed the sale of its eight Chez Gerard branded restaurants to chef Raymond Blanc's Brasserie Blanc brand.
Administrators have been appointed from Deloitte, who are reported to have been aiding the company with future options since August. The administrators are now looking for sales for the company's remaining properties, which comprise three Bertorelli restaurants, four Livebaits and eighteen Brasserie Gerards.
It is thought that deals are currently being negotiated for a number of the sites, which will carry on trading as normal over the Christmas period.
Since 2009, Paramount has undergone two comprehensive restructuring processes. The first saw it put under the ownership of a consortium of banks, while the second - which happened in January this year, saw the formation of new holding company, Chez Gerard Restaurants Limited.
The chairman of the business, William Rollason, stepped down from his position in July this year and was replaced by non-executive chairman and corporate turnaround specialist, Steve Smith.
This highly profitable nursing home in a bustling East Midlands town boasts an excellent reputation and a commendable CQC 'Good' rating, ensuring quality care and strong community standing.
A well-established residential care group in Lincolnshire is now on the market, presenting a rare chance for investors or operators to expand their portfolio in the healthcare sector.
Opportunity to acquire a cluster of elderly care homes strategically located in the East Midlands, providing a significant presence in the region.
FREEHOLD
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.