Panther Partners Limited (08462175): administration
- Status
- Administration ended
- Administration began
- 2023-10-17
- Administrators
- Christopher Robert Pole, William James Wright
- Administrators' firm
- Interpath Advisory
- Formerly
- Panther Restaurants Limited; D&D Topco Limited
- Incorporated
- 2013-03-26
- Location
- Birmingham
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- COVID-19
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The business faced significant challenges over the past few years caused by inconsistent revenues due to external factors such as lockdowns during the COVID-19 pandemic and more recently, industrial action particularly train strikes causing low footfall in the Group’s restaurants.
The Company’s major shareholder changed in May 2023, with Lloyds Development Capital (‘LDC’) transferring shareholder control to Beechbrook.
The Group consisted of several high performing ‘blockbuster’ restaurants which were key to its performance. As part of the wider restaurant portfolio, there were also a number of marginal or loss-making restaurants. The Group had a significant head office function to oversee the operations of all Group restaurants. Due to the number of marginal or lossmaking restaurants, in the secound half of 2022 management developed a restaurant rationalisation plan to seek to restore the Group to an overall cash generating position.
Administrators' statement of proposals (2023-11-07) · Companies House register