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.
