Casual Dining Restaurants Group Limited (05313454): administration
- Status
- Administration ended
- Administration began
- 2020-07-02
- Administrators
- Catherine Williamson, Clare Kennedy
- Administrators' firm
- AlixPartners
- Formerly
- Tragus Group Holdings Limited; Stampgroove Limited
- Incorporated
- 2004-12-15
- Location
- Manchester
- Industry
- 56101 Licenced restaurants
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
3.3 Following the UK Government’s response to the COVID-19 pandemic, on 21 March 2020 the Companies closed all restaurants to the public to comply with social distancing requirements and the Coronavirus Act 2020. .
3.4 Whilst some of the Companies’ restaurants continued to trade on a delivery-only basis, revenue generation was significantly reduced. Accordingly, CD Limited engaged AlixPartners UK LLP (AlixPartners) on 7 April 2020 to assist management initially with a review of its business plan and the development of restructuring options. Le
3.5 This work included AlixPartners assisting management to develop a base case 24month review plan, including but not limited to: the review of assumptions used by management in building forecasts; the implementation of additional scenario assumptions with a view to assessing any funding requirements; and conducting a site- by- -site review workshop based on a site categorisation exercise.
Administrators' statement of proposals (2020-09-09) · Companies House register