Little Chef to make announcement on its future

02 January 2007 by
Little Chef to make announcement on its future

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.

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By Tom Bill

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