Struggling roadside restaurant chain
Little Chef could be
sold for about £10m, leaving 4,000 jobs in the balance.
Yesterday it was rumoured that the firm was in takeover talks with Israeli
group Arazim, and
specialist RCapital. It
emerged the chain could be bought as part of a rescue deal, possibly leading
to an initial closure of 40 of its 234 outlets.
Little Chef is one of Britain’s best-known brands and employs almost 4,000
people at 234 outlets, but is said to be losing up to £3m each year. Recent
reports have stated that its parent company, the People’s Restaurant Group (PRG)
was on the brink of administration.
PRG suffered problems after a £60.3m sale and leaseback deal of 65 sites in
February with Arazim. Trading picked up after the transaction, but not as
quickly as PRG had expected.
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