French restaurant Bistrot Pierre has been purchased from Pre-packaging management and has received nearly 400 jobs.
Cherry Equity Partners, a new investment platform led by Hospitality Executive Ed Strandring, has acquired part of the business.
The shop will ensure that ten bistrot Pierre restaurants around the country will continue to operate, securing 394 jobs.
However, eight restaurants will close immediately, leading to 158 dismissals.
Interpath Advisory, the administrators, said they supported “primarily”.
Restaurants to be closed
Bistrot Pierre was previously sold out of the pre -packaging administration in 2020 and has had to return to continuous challenges after pandemic profitability.
Bistrot Pierre announced that the £ 2.5 million defeat preceding tax for the year ending on June 30, 2023. Net sales dropped to £ 24.4 million from the previous year from 28.4 million weapons.
Nick White, CEO of Bistrot Pierre, said that the national insurance and the planned increase in the national minimum wage in April made it impossible to keep some of the smaller sites in the chain.
White added: “We are delighted that we have secured the future of the business, and the support of Cherry Equity Partners now has a strong platform for future growth.
“At the same time, we are very sad to see our eight sites near our site. The impending increase in national minimum wage and national premiums will add hundreds of thousands of pounds to costs, which simply makes smaller places useful.
“We want to express our sincere thanks to our groups who have worked so hard to serve fantastic customers who have visited these places over the years.”
The store will be two months after the Cherry Equity Partners, supported by the International Family Office, supported the purchase of the Cabana Latin American restaurant chain.
Ed Standring, CEO of Cherry Equity Partners, said: “Bistrot Pierre is a beloved Bistrot, Bar and Batique room business that has a great legacy, and we are looking forward to working with Nick and the team to invest and grow the company.”
The event was led by Will Wright and Dom Pannozzo Interpath.
