Richardson sacked as Eurasia restaurant shuts

The non-executive directors of Glasgow restaurant Eurasia have put the company into voluntary liquidation and sacked its managing director, chef Ferrier Richardson.

They called in Bryan Jackson of accountant PKF last Thursday after paying off a creditor who had invoked a liquidation petition earlier than day, which was dismissed.

The restaurant, which is owned by Fine Wine and Dine, has "significant" debts which have been reported to be in the region of £300,000.

Richardson was in the USA at the time. A company spokesman said Richardson had left his duties several times in the past few months visiting the USA where he was considering opening his own new business.

This, the spokesman said, was in breach of his shareholder's agreement with Eurasia.

He added that the directors had been considering taking legal action against Richardson because they were unhappy with the way he was running Eurasia. He had not, said the spokesman, kept the directors up to date with its financial situation and had failed to file its annual results.

Richardson, who is currently in talks with his lawyers, said he was not commenting at present. But he suggested he would be contesting some of the statements made by the company, including its comments about his trips to the USA.

The directors - Patrick Trainer, Christopher Trainer and Hugh Nash - have provided funds to keep the restaurant open until a buyer is found, and to pay a month's outstanding wages to staff, and two months' tips.

Richardson held a 75% stake in the 180-seat restaurant, which opened in 1999, but had planned to eventually buy out the directors who had funded the venture.

Under the current circumstances, the spokesman said, ownership has now passed fully to the non-executive directors.

by Angela Frewin