Three Koh Thai Tapas restaurants saved from administration
Three Koh Thai Tapas restaurants have been saved after the group entered administration earlier this year.
The chain was founded in 2009 and ran 11 restaurants in locations including Bath and Bristol, but it fell into administration in August after struggling with the financial impact of the pandemic.
Three of the sites in Southsea, Lilliput and Bournemouth have reopened after being bought back by the management team, however the other eight restaurants have closed, and joint liquidators at Quantuma are seeking buyers for the sites.
While some staff were made redundant prior to the administrator's appointment, all 53 of the chain's remaining employees will be retained by TUPE.
Andrew Watling, joint liquidator at Quantuma, said: "The leisure and hospitality sector has been hit the hardest by the coronavirus pandemic, with uncertainty circling the market causing irreparable damage for many businesses.
"Koh Thai Tapas was closed in March in line with government rules and subsequent restrictions has led to a financial downturn, which ultimately pushed the company to enter administration in August.
"We have been working hard to retain as many employees as possible and are pleased to have confirmed the sale of three sites.
"We are hopeful that sales of the remaining restaurants will be closed in the coming days and weeks."
You need to create an account to read this article. It's free and only requires a few basic details.
Already subscribed? Log In