Dirty Bones bought out of administration in pre-pack sale

New York-inspired restaurant group Dirty Bones has been bought out of administration in a pre-pack sale.

Brian Baker and Ian Robert of Moore Kingston Smith & Partners were appointed administrators to the business on 12 May, with the business sold on the same day for a consideration of £612,100.

The purchaser, DB Opco Ltd, lists the groups founders Robert Clarke and Jamie Sulkin as officers on Companies House and states that investor Hard Yards Global Limited holds 75% or more of the shares in the business.

The first Dirty Bones opened in Kensington in February 2014, with a second restaurant opening in Soho in September 2015 and a third in Shoreditch the following year, with the group eventually growing to six sites.

Sites in Shorefitch, Westfield shopping centre and Kensington had been closed prior to the administration and the remaining business totalled three venues in Soho, Carnaby and Oxford.

The administrators report states that the business built up significant debt due to the affects of Covid and the associated restrictions, which was exacerbated by the need to replace the roof at its Shoreditch site and the calling in of a debt owed to HMRC.

A Companies Voluntary Agreement (CVA) was considered, but the administrators felt it would not be a viable option.

Last year Hero Brands joined the board of Dirty Bones, working closely with the restaurant group's founders and early investors Hard Yards Global, to expand the business.