Between them, the companies operate 15 restaurants predominantly across London and the south of England under the brands Richoux, Zintino, Friendly Phil’s, Villagio and The Broadwick.
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All of the Group’s sites had been closed for dine-in services since 20 December 2020 in line with the Government’s tier four COVID-19 restrictions, with a handful of sites continuing to provide takeaway and delivery services. However, with ongoing uncertainty around when restrictions will be lifted and with the companies continuing to accrue liabilities, the pressure on the cash position became such that the directors took the difficult decision to appoint joint administrators.
Regrettably, following the appointment of the joint administrators, all 147 members of staff have been made redundant.
Will Wright, partner at KPMG and joint administrator, said: “The current plight of the UK’s hospitality sector cannot be underestimated. Despite the breadth of support packages available, the reality is that the latest lockdown measures have proven to be a hammer blow for many businesses which, like the Dining Street group of companies, continue to accrue creditor liabilities while seeing little to no revenues coming in.
The Group had a number of popular brands and outlets, and so we are currently exploring options for a sale of the business and its assets. We would like to invite any interested parties to contact us as soon as possible.
We are also working with the Group’s employees as a matter of priority, to provide them with all the assistance they need in claiming monies owed from the Redundancy Payments Office.”
Interested parties should contact Lorraine Gray and Sophia Rodriguez at KPMG. (Lorraine.Gray@kpmg.co.uk / Sophia.Rodriguez@kpmg.co.uk)
Notes to Editors:
The restaurants are in the following locations:
For further information, please contact:
Katy Broomhead, Senior PR Manager, KPMG
Tel: 0161 246 4623 / 07824 537963
KPMG Press Office: 020 7694 8773
KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 17,600 partners and staff. The UK firm recorded a revenue of £2.40 billion in the year ended 30 September 2019.
KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. It operates in 147 countries and territories and has more than 219,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.