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Restaurant Operator with Leeds Site ‘Will Run Out of Money without Restructure’
- On Wednesday, lawyers for Iguanas Holdings Limited told the High Court that the company has "fallen into financial difficulties" and will have "no funding to continue trading" without an approved restructuring plan for its 44 UK restaurants.
- Barrister Ryan Perkins cited "substantial problems" in the UK casual dining sector, with the company losing nearly £10 million in the 2025 financial year amid high inflation and reduced customer spending.
- Big Table Group would inject £3 million as part of a "turnaround strategy" while the plan aims to wipe out around £37 million in debt and impose rent reductions on landlords.
- Mr. Justice Hildyard said he was "content to approve what is proposed," allowing creditors to vote on the restructuring plan on May 28, with a final sanction hearing scheduled for June 5.
- CEO Alan Morgan stated the restructuring applies solely to Las Iguanas, which has operated for more than 30 years, and does not affect other Big Table Group businesses or their sustainability.
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36 Articles
36 Articles
The Echo UK+3 Reposted by 3 other sources
Major restaurant firm could 'run out of money' with two Essex bars at risk
A company which runs two Essex restaurants will “simply run out of money” if a restructuring plan is not approved, the High Court has been told
·Basildon, United Kingdom
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The Herald Scotland+21 Reposted by 21 other sources
Major restaurant chain could 'run out of money' with all 47 stores at risk of closing
Iguanas Holdings Limited, which runs 47 Las Iguanas restaurants across the country, is at risk of falling into administration.
·Scotland, United Kingdom
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Coverage Details
Total News Sources36
Leaning Left2Leaning Right1Center29Last UpdatedBias Distribution91% Center
Bias Distribution
- 91% of the sources are Center
91% Center
C 91%
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