Breare will head Arbuckles buy-back

Robert Breare, former chairman of US-style diner chain Fatty Arbuckles, has admitted he wants to buy back 10 of the group's most successful restaurants.

The chain went into receivership last week. A number of its restaurants closed and many staff were laid off.

Breare, who last month joined forces with Taipan Taverns to launch Noble House Leisure, a company that will target acquisitions in the pub and restaurant sector, will head the management buyout team.

He has entered into a conditional contract with the joint receivers of Fatty Arbuckles, Alan Bloom and Andrew Wollaston of accountant Ernst & Young.

The contract is conditional on the landlords giving consent to assign the restaurant leases to Noble House.

The 10 restaurants are Bedford, Croydon in Surrey, Glasgow, Kettering in Northamptonshire, Liverpool, Salford Quays in Manchester, Southsea in Portsmouth, Rhyl in Wales, Stoke in Staffordshire and Surrey Quays in London.

Noble House has launched a subsidiary of Taipan, called Whirlwind Restaurants. The Fatty Arbuckles restaurants will belong to Whirlwind.

Breare said: "If we are successful in getting consent from the landlords then we will buy the restaurants. I cannot disclose the price but it will be several million pounds."

Two of the restaurants were renamed Arbuckles American Café earlier this year. Breare said he would spend 12 months converting the remaining eight.

He expects the deal to go through in the next 40 to 60 days.

Breare met with franchisees at the Arden Hotel in Birmingham this morning to discuss how they would work together in the future.

by Louise Bozec louise.bozec@rbi.co.uk