Little Chef enters administration then sold

The majority of Little
restaurants have been sold on the day the company went into

PricewaterhouseCoopers partners Ian Green and Steve Ellis were appointed
today as administrators of Little Chef and parent company People’s Restaurant

The administrators completed sale of 196 of 235 Little Chefs to a newly
formed company funded by turnaround specialists
R Capital

Green said: ‘While it is clearly disappointing that the directors’ efforts to
save the group ultimately proved unsuccessful, I am delighted that detailed
negotiations held over the Christmas and New Year period by the directors and
their advisors, including DLA Piper, have enabled us to conclude a sale that
will see almost 200 Little Chef restaurants continue to trade and preserve the
jobs of the majority of the Group’s 4,000 employees.

The Little Chef brand will continue to exist.

The joint administrators will review the future of the restaurants not
included in the sale over the course of the next few days.

Further reading:

KPMG cooking up refinancing plan for Little Chef

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Light appears at end of Eurotunnel’s debt nightmare

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