Floundering FishWorks calls in the administrators

21 January 2009 by
Floundering FishWorks calls in the administrators

FishWorks, the embattled fish restaurant chain, has called in the administrators after attempts to raise working capital were scuppered by the credit crunch.

The company, which has 10 restaurants and 220 staff, has appointed PricewaterhouseCoopers two weeks after it was forced to suspend its shares due to "challenging market conditions".

In November, FishWorks revealed a loss of £5.5m for the year ended 31 July 2008. At the time the company said it expected cost-cutting procedures implemented at the group to improve its future performance.

It is understood that a number of bids for some or all of the company are already under consideration, including one from its own management team.

FishWorks shares suspended >>

Losses rise to £5.5m at FishWorks >>

FishWorks continues restructuring programme >>

FishWorks parts company with Mitch Tonks >>

Luke Johnson and Gary Ashworth rescue FishWorks >>

By Daniel Thomas

E-mail your comments to Daniel Thomas here.

Caterersearch.com jobs
Looking for a new job? Find your next restaurant job here with Caterersearch.com jobs

The Caterer Blog](http://www.caterersearch.com/blogs/catering-news-blog/) Catch up with more news and gossip on the Caterer Blog here
[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
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.


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