Restaurants begin to feel the crunch
Hospitality sector hit hard by the credit crunch as several high-profile restaurateurs are feeling the pinch
Hospitality sector hit hard by the credit crunch as several high-profile restaurateurs are feeling the pinch
Celebrity TV chef Antony Worrall Thompson had to use his own savings to keep
two of his six restaurants afloat after his chain fell into administration. He
said his bank had refused funding even though most of his restaurants were
profitable. BHG Chartered Accountants is understood to have been appointed
administrator. ‘The first quarter of the year is always a hard one in the
hospitality business and with 2009 set to be an even tougher one, additional
funding was required to ease our continuing cash flow issues.’ Four restaurants
have closed – the Notting Grill in west London, the Lamb Inn and the
Greyhound, both near Henley-on-Thames, and the Barnes Grill in south-west London
– with the loss of about 60 jobs.
Michelin-starred chef Tom Aikens was also forced to put his restaurants into
administration last October.
Tom’s Kitchen and Tom Aikens were placed in the hands of private investors after
a management buyout.
The numbers you crunch tell a story. Your expertis...
15yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article