Carluccio's working with restructuring experts KPMG to assess options

05 March 2018 by
Carluccio's working with restructuring experts KPMG to assess options

Italian restaurant chain Carluccio's is working with advisors from KPMG to assess its options as casual dining continues to suffer.

The news comes just days after Prezzo revealed plans to close 94 sites as it pursues a Company Voluntary Agreement.

Carluccio's which has 102 sites across the UK is believed to be assessing restructuring options, The Sunday Times reported.

Carluccio's was co-founded by chef and restauranteur Antonio Carluccio, who died in November at the age of 80 and is owned by the Dubai-based Landmark Group.

In the year to 25 September 2016 revenue at Carluccio's increased by 2.7% to £140m but pre-tax profit was £982,000, down from £5.2m thanks to £4m of exceptional costs related to impairment charges for assets.

Carluccio's is the latest restaurant to be hit by tough trading conditions affecting the casual dining sector, and the news follows recent announcements that Jamie's Italian and burger chain Byron have entered into CVAs.

Carluccio's told *The Sunday Times*: "There are currently no plans to restructure."
Antonio Carluccio dies aged 80>>](/articles/514294/antonio-carluccio-dies-aged-80) [Revenue rises but profit falls at Carluccio's>>](/articles/504986/revenue-rises-but-profit-falls-at-carluccios) Videos from *The Caterer archives*
[Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking