Carluccio's directors 'considering all options' after appointing advisers

Carluccio's directors are said to be considering "all options" after appointing business advisory firm FRP.

Earlier this week the casual dining chain's chief executive Mark Jones told The Caterer: "These are difficult and very challenging times for which we are doing absolutely everything we can and the Carluccio’s board is in constant talks with its stakeholders to determine a way forward."

The statement came after staff were informed they would receive 50% of wages in March's payroll, after the forced closure of all sites by coronavirus.

Today FRP has said it is "working with the directors of Carluccio’s to consider all options for the company in the current climate”.

Sky News reports that an insider has advised the business could file for administration within days, although FRP has not commented on this.

Carluccio's was founded in 1999 by chef Antonio Carluccio. It underwent a CVA in May 2018, with the brand later announcing a £10m funding injection from shareholder Landmark Group to roll out changes in menus, design and operation across the remaining 74-site UK portfolio. The turnaround plan had been reaping rewards, with refurbished sites receiving a "strong and positive" response, as well as improving customer sentiment scores.

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Carluccio’s doing 'everything to determine a way forward' as entire team takes March pay cut >>