The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Hotel / Restaurants Accommodation And Food Service Activities Food And Beverage Service Activities 56.1 - Restaurants and mobile food service activities
540 jobs Number of planned job losses
Announcement Date
19 July 2018
Employment effect (start)
Foreseen end date
Description
Restaurant group Gaucho has announced that it is to enter administration. The group, which operates the Cau and Gaucho brands, has announced that the 22 Cau restaurants will close, resulting in the loss of 540 jobs. A further 714 people work in the Gaucho restaurants, as well as 51 staff at the group's head office. It is understood that creditors rejected a company voluntary arrangement (CVA) to keep the Cau restaurants operating. There are hopes that Gaucho restaurants, which are seen as the more profitable side of the business, will be able to continue once a buyer is found.
Sources
Citation
Eurofound (2018), Cau, Bankruptcy in United Kingdom, factsheet number 94686, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94686.
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