Las Iguanas and Bella Italia owner appoints advisers

The owner of the Las Iguanas, Café Rouge and Bella Italia brands has appointed financial advisers with all restructuring options understood to be on the table.

Casual Dining Group (CDG), which operates around 250 UK restaurants, will work with AlixPartners to determine how it can best emerge from the coronavirus crisis. All options, such as negotiations with landlords and potential site closures, are understood to be under consideration.

A spokesperson for CDG said: “As is widely acknowledged, this is an unprecedented situation for our industry and, like many other companies across the UK, the directors of Casual Dining Group are working closely with our advisers as we consider our next steps.”

A further announcement is expected in the coming days.

Several casual dining groups, including the Restaurant Group have looked to raise finance to ensure they can emerge from this period of enforced closure and suggested that they may not reopen all sites when restrictions are lifted.

The sudden closure and subsequent loss of income has already forced several restaurant groups into administration, including Carluccio’s and Benito’s Hat.

Photo: Shutterstock