Côte Brasserie owner explores new funding but could close restaurants
The owner of Côte Brasserie exploring the injection of new funding into restaurant chain and retaining control of the business, after months of talks with prospective buyers.
Swiss private equity group Partners Group is considering providing millions of pounds of new capital to finance a turnaround plan, Sky News has reported.
This plan would likely lead to the closure of loss-making sites.
Partners Group – which acquired Côte Brasserie out of administration in 2020 – appointed Interpath Advisory in the summer to find prospective bidders.
Côte Brasserie trades from about 70 locations, down from around 100 before its collapse into insolvency five years ago.
Sources close to the sale process told Sky News that Interpath had been marketing the company based on last year’s turnover of more than £150m.
Around 60 of the sites are said to be profitable, so any turnaround plan could see the closure of further sites.