Little Chef in talks with US investors to avert bankcruptcy

21 December 2006 by
Little Chef in talks with US investors to avert bankcruptcy

Little Chef is in talks with a consortium of American investors over a refinancing package, according to The Times.

Today's report states that financial advisor KPMG is helping the group to find the cash and stave off the threat of bankruptcy.

It emerged last week that the 235-strong roadside chain was seeking fresh investment because co-owner Lawrence Wosskow was in ill-health and wanted to pull out.

But rumours have persisted that the company is having difficulty paying its rent after raising £60.3m from a sale and leaseback deal with Israeli property group Arazim for 65 sites.

Together with Simon Heath, the pair paid £52m for the business last October.

The report also states that there are unconfirmed reports that PricewaterhouseCoopers has been lined up to handle any administration process should the current negotiations fail.

Little Chef rolls out Wi-Fi to attract business traffic >>

Little Chef denies it is in trouble >>

Little Chef launches new grab-and-go brand >>

By Tom Bill

E-mail your comments to Tom Bill]( Chef in talks with US investors to avert bankcruptcy) here.

Get your copy of Caterer and Hotelkeeper every week -

[Sudoku]( "A new puzzle every day!") Join the craze and play Sudoku online!
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking