London restaurant Automat has been saved from administration after owner Carlos Almada secured backing from Giuseppe Cipriani, the grandson of the founder of the Hotel Cipriani in Venice and the former London restaurant of the same name.
Automat, a New York-style brasserie in Dover Street near Piccadilly, had called in administrators last year, who were looking to sell the leasehold of the Mayfair venue. The restaurant continued to operate as normal as a buyer was being sought.
Financial advisory and investment banking firm Duff & Phelps has now sold the business, with Almada and Cipriani looking to develop the Automat brand and to open a new restaurant in the adjacent building. The duo has the backing of private equity cash.
Geoff Bouchier of Duff & Phelps commented: "The Automat brasserie has always been a very successful business and has a strong operating team in place so naturally we are delighted with this sale, which has protected the employment of approximately 50 staff."
By Kerstin Kühn
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