Sir Terence Conran has become the latest big name in the restaurant sector to hit financial trouble after his Prescott & Conran business went into administration.
Three of its restaurants have closed with the loss of 72 jobs, but another 96 jobs have been saved through the sale of part of the business back to the Conran family by administrators from Duff & Phelps.
His group is not alone in suffering financial woes. Jamie’s Italian, owned by Jamie Oliver, and Carluccio’s, founded by the late Antonio Carluccio, are both closing restaurants by way of company voluntary arrangements.
