The Middle Eastern owner of Carluccio’s has promised to pump £10m of new investment into the restaurant chain if a company voluntary arrangement is approved.
The Dubai-based Landmark Group, which took Carluccio’s private in 2010 in a £90m buyout, said that it would only make the funding available if the CVA was supported by the landlords of the chain’s restaurants.
The “landlord-only” CVA, which will not affect other creditors, will include 34 of its 103 UK restaurants. Outlets in the Gulf, Turkey and Ireland will not be affected.
