UK restaurant chain rescued from brink of collapse – 7 locations saved | UK | News
A popular restaurant chain in the UK has been rescued from the brink of collapse by saving all its outlets and 159 jobs. Middletons Steakhouse & Grill, which has seven restaurants across the UK, has been hit hard by rising labor costs.
It was on the verge of collapse but has now been sold out of administration, meaning all restaurants can continue to operate as normal without any closures. On Friday, Interpath’s Tim Bateson and James Clark joined together to become joint managers. They sold the beloved steakhouse chain to a new group controlled by Middletons’ existing shareholders.
Middletons Steakhouse & Grill currently has seven restaurants across the UK: Chelmsford, Colchester, King’s Lynn, Leicester, Milton Keynes, Norwich and Peterborough.
The chain has been welcoming punters through its doors since opening its first restaurant in Middleton, Norfolk, in 2011.
Interpath director and joint administrator Mr Bateson said: “Hospitality businesses across the country continue to struggle in the face of strong trade winds.
“Whilst these challenges have proven insurmountable for Gastro Pubs Limited, we are pleased to have completed this transaction which will allow the company’s loyal staff of seven Middletons Steakhouse & Grill restaurants to continue trading while preserving their jobs.”
This comes as: The popular fast food chain was forced to close three of its restaurants In London after entering management.
Last week, it was reported that ‘Fine fast food’ chain Yolk had been placed into a company voluntary arrangement (CVA).
Its branches in the Strand, New Oxford Street and High Holborn (all in London) have been closed.
Yolk, the restaurant chain known for serving coffee and fancy sandwiches, has debts of around £1.7 million, according to filings with Companies House.
Yolk launched as a pop-up in 2014, before opening its first permanent site in New Street Square in the City of London in 2018.
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