Luxury Thai restaurants enter administration
Top Thai restaurants hit debt wall and call in administrators
Top Thai restaurants hit debt wall and call in administrators
A London-based luxury Thai restaurant chain has entered into administration
due to debt problems.
Administrators from
Menzies
Corporate Restructuring were appointed to the
Saran Rom
and Siam food Gallery restaurants in Virginia Water, Esher and Chelsea.
The restaurants turnover about £600,000 a year each, and administrators hope
to sell them as going concerns.
‘It would appear that the business has hit financial difficulties due to
over-gearing but we’re hopeful that a buyer, perhaps someone already looking to
expand in the restaurant sector, can be found. No jobs will be affected whilst
we continue to trade the business,’ said joint administrator Andrew Stoneman.
Further reading:
Farepak victims yet to be
paid
Firms expect 10% jump in
insolvencies
The numbers you crunch tell a story. Your expertis...
16yEmbracing 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 articleBody Shop, Ted Baker, Farfetch, MatchesFashion and Wilko among latest retailer insolvencies. Number of businesses in trouble are the highest in five y...
View articleInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View article