Bristol fast-food chain Friska goes into administration
Bristol-based café and quick-service restaurant chain Friska has fallen into administration.
Mark Boughey and Tim Ball of Mazars LLP have been appointed administrators of the brand, which operated 12 restaurants across Bristol, Manchester and Birmingham.
The business was founded in 2009 and held tenth position in The Caterer's 2018 Best Places to Work in Hospitality survey. Friska has struggled during the Covid-19 pandemic due to enforced closures and the lack of footfall with office employees working from home.
The business entered into a company voluntary arrangement in October 2020 with the aim of closing its Manchester and Birmingham sites and renegotiating terms with landlords to focus future operations on its eight sites in Bristol.
While the CVA was approved and the business underwent the necessary restructuring, the continued impact of the pandemic has hit Friska further, with Mazars LLP instructed to identify a buyer and sell the business.
Since then, the business (including goodwill and trading names) and the assets at five of the Bristol sites have been sold to a third party, while two of the other Bristol sites have been sold to the current management and will operate under a different brand.
Mark Boughey, joint administrator, said: "The joint administrators are pleased to announce that a sale of the business and assets has now been completed, which has resulted in 35 employees transferring to the new owners. While the hospitality and retail sector continues to experience challenges due to Covid, we hope that the government's recent announcement and the lifting of restrictions on 19 July will enable the business to reopen and thrive under new ownership, safeguard the jobs of employees and retain tenants for local landlords."
He added: "We also wish the Friska co-founders Griff and Ed well with their new venture and every success for the future."