Five years ago, the casual dining sector was booming. Private equity houses were investing large amounts of money into new chains of restaurants which quickly expanded their outlets, for example Byron, the burger chain, was bought for £100m.
Today, the sector is, to say the least, struggling. EAT is the latest brand to announce closures. Byron is going through a restructuring, Jamie’s Italian has entered into a company voluntary arrangement, and Strada is implementing a closure programme.
What has happened to bring about this sudden reversal of fortunes? Roger Gregory, partner at Pitmans Law, has the answers. Read on