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Barburrito to close three sites under restructuring deal

04 December 2020 by
Barburrito to close three sites under restructuring deal

Mexican restaurant chain Barburrito is to close three sites as part of a restructuring deal to secure new investment for the business.

Locations in Aberdeen Union Square, Edinburgh Lothian Road and Manchester Deansgate are to shut permanently.

Barburrito's remaining 14 stores in London, Liverpool, Leeds, Sheffield, Nottingham, Glasgow and Edinburgh will keep trading, protecting more than 270 jobs.

Barburrito chairman Graham Turner has led a new investment in the business, alongside other private investors. The move is backed by the existing management team of founder and chief executive Morgan Davies and finance director Steve Herring.

RSM Restructuring Advisory oversaw the deal.

Davies said: "I am delighted that we have secured the future of Barburrito, just ahead of our 15th birthday. The last few months have been extremely challenging for the whole sector. The high street is changing fast and my heart goes out to all those affected. Despite this, we have done really well in the stores that have remained open and, in particular, we have demonstrated the success of our delivery offering.

"In common with many in our sector, the closures and liabilities accrued during lockdown have resulted in us having to restructure the business. However, with the new investment, support of our landlords and the hard work of our fantastic teams, Barburrito is now well positioned to succeed in this new landscape."

Barburrito was founded by Davies and Paul Kilpatrick in Manchester in 2005.

In 2014 it secured a £3.6m investment from the Business Growth Fund to expand the business.

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