Home Kent Business County news Article
Uncertainty over future of Carluccio's restaurants in Kent as axe to be wielded
16:56, 31 May 2018
updated: 07:21, 01 June 2018
Italian restaurant chain Carluccio's has cooked up a grim future after it confirmed up to 30 of its sites could be forced to close.
The brand, which has outlets in Tunbridge Wells, Canterbury and Bluewater, says the closures could amount to one in three of its existing estate.
It comes after creditors approved a company voluntary agreement (CVA) where creditors agree to either off-setting repayments, or accepting small sums, in order to keep the business afloat.
The company has seen profits plunge after increasing competition on the high street.
It has not identified those restaurants facing closure.
Founded by the Italian restaurateur Antonio Carluccio in 1991, the chain grew from a cafe in London to a national chain with more than 100 outlets.
He sold his majority stake in the company in 2005 when it was taken over by the Dubai-based Landmark Group in a deal worth £90 million.
Antonio Carluccio died last November, aged 80.
Landmark says it will invest £10m in upgrading those restaurants saved from the axe as it looks to turn the business' fortunes around.
Latest news
Features
Most popular
- 1
The abandoned ‘ghost road’ that once took holidaymakers to the Kent coast
23 - 2
Air ambulance lands after head-on smash between bus and car
- 3
Everything you need to know about Kent’s biggest Christmas market
3 - 4
'Our son didn't attend lectures for five months - why didn't uni check on him?'
- 5
Hundreds in the dark after power cuts