Azzurri Restaurants Limited (02792998): administration
- Status
- Administration ended
- Administration began
- 2020-07-17
- Administrators
- William James Wright, Christopher Robert Pole
- Administrators' firm
- KPMG
- Formerly
- Gondola Restaurants Limited; ASK Restaurants Limited
- Incorporated
- 1993-02-23
- Location
- London
- Industry
- 56101 Licenced restaurants
Why it went into administration
- COVID-19
- Property / lease costs
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Weak consumer demand
- Rising costs / inflation
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated on 23 February 1993 and commenced trading i in its current form in February 2015 following the acquisition by Bridgepoint. At the date of appointment, the business operated 268 sites in the UK. The Company employed 5,636 staff, and was headquartered in London.
_ Please refer to the SIP 16 disclosure at Appendix 7 for more information on'the background of the Company.
We are not currently aware of any connected party transactions in the two years prior to the administration that warrant further investigation at this stage although our investigations into the affairs of the Company are ongoing as outlined in Section 4.2,
Administrators' statement of proposals (2020-10-05) · Companies House register