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

CAU sites at risk as Gaucho explores CVA

10 May 2018 by
CAU sites at risk as Gaucho explores CVA

Steak restaurant chain Gaucho has appointed KPMG to advise on the future of its casual dining brand Cau, with closures and a Company Voluntary Agreement (CVA) on the cards.

If the company goes ahead with the CVA, around 700 jobs could be at risk among the 20 Cau sites across the UK.

The 16-strong Gaucho brand is understood not to be under threat.

A company spokesperson said: "As part of a comprehensive strategic review, the Group's new management team, with the support of its shareholders, is at the early stages of exploring a number of financial restructuring options. No decisions have yet been made."

Gaucho recently had a management shake up with the departure of Richard Clark, who stepped down as managing director of Cau restaurants in September 2017 and the appointment of Oliver Meakin as chief executive officer of the Gaucho Group in January following the departure of Zeev Godik who held the position for 41 years.

Oliver Meakin replaces Zeev Godik as CEO of Gaucho Group >>

Gaucho Group's Zeev Godik steps down after 41 years >>

Luke Johnson stepping down from Gaucho Group board >>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

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 Group 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