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Little Chef to make announcement on its future

02 January 2007 by

Little Chef will make an announcement imminently about the future of the roadside chain.

A spokesman for the company would not disclose whether it had reached a deal with an investor or was about to be put into administration, as expected, but said there would be "an outcome" shortly.

The 235-strong chain was bought by catering entreprenuers Lawrence Wosskow and Simon Heath for £52m in October 2005. Rumours have circulated since late December that it was struggling to meet rent payments after agreeing an £60.3m sale-and-leaseback deal with Israeli property group Arazim to fund a revamp.

Reports suggested that Little Chef was losing up to £3m per year.

The pitcure is further clouded by the fact that Wosskow pulled back from the day-to-day running of the business after suffering a heart attack in the summer.

Little Chef in weekend crisis talks >>

Little Chef sells 65 sites >>

BP team to help revive Little Chef >>

By Tom Bill

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

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