Joint administrators from KRE Corporate Recovery LLP have been appointed for a chain of Bristol-founded, US-style barbeque restaurants. The Grillstock restaurant brand later opened branches in London, Bath and Leicester and went on to start a high-profile music festival in Bristol. The business continues to operate its sites and is expected to be sold as a going concern. The weak pound as a result of Brexit uncertainty has caused problems for the UK restaurant industry due to the rising cost of importing foods, as well as the introduction of the national living wage. A Moore Stephens report in October 2017 revealed more than 5,000 restaurants in the UK were at risk of insolvency.
KRE Corporate Recovery LLP have moved offices
Insolvency Practitioners, Insolvency, Corporate Recovery, Independent, Formal Insolvency Process, Administration, Company Voluntary Arrangement, Creditors Voluntary...