Cote Kitchens Limited (12599618): administration
- Status
- Administration ended
- Administration began
- 2020-09-28
- Administrators' firm
- FTI Consulting
- Incorporated
- 2020-05-13
- Location
- London
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Parent or group failure
From the administrators' statement
2.5 The Group operated 98 restaurants under the Céte Brasseries brand and a further three under the Jackson & Rye and Limeyard brands. It employed 3,204 people across the UK, specialising in freshly prepared French food in the midmarket casual dining sector and is predominately located in London and the South East of England.
2.6 The Group was originally founded in August 2007 with the first restaurant opening in Wimbledon. The Group grew steadily through site expansion and was acquired by private equity firm CBPE Capital in 2013. BCP took a majority stake in July 2015.
2.7. Debt funding was provided to the Group under a £150m unitranche facility provided Partners Group funds. Partners acquired the £10m RCF debt from a third party lender in the week prior to the Transaction.
Administrators' statement of proposals (2020-10-12) · Companies House register