Corrett attempts Maggiore's rescue
London restaurateur Paul Corrett is trying to put together a rescue package for his Maggiore's and Café Milan restaurants which have been placed in the hands of administrators following a High Court ruling.
The administrators, Geoffrey Kinlan and Peter Copp from BDO Stoy Hayward, were appointed by the court last month. They are running the restaurants as normal while a buyer is sought.
A spokesman for BDO Stoy Hayward said the administration order had been granted following a petition from one of the restaurants' biggest creditors, but declined to expand on the underlying reasons.
Both restaurants were trading well, he stressed.
Corrett said the situation had come about because of the break-up of the partnership between himself and WD King Group, which financed the two restaurants, both of which opened only last year.
He added that he had put together a rescue consortium for Maggiore's and put forward an offer for the 100-seat restaurant based on the advice of independent valuers.
The terms of the offer, if accepted, would safeguard the business and its employees with appropriate funding, said Corrett.
He is trying to put together an equivalent rescue package for the 116-seat Café Milan and expects to make a further announcement within four weeks.
by David Shrimpton
