Gusto has a location right in the heart of Birmingham
Gusto is reportedly on the brink of administration, according to reports(Image: Gusto)
Gusto Italian is allegedly on the brink of administration, and could be sold through a pre-package insolvency agreement it has been reported.
Interpath Advisory is said to be preparing a pre-pack insolvency of Gusto Italian, in a move which could be a shake-up for its locations all over the UK, Sky News said.
According to a source, it has been said a vehicle set up by Cherry Equity Partners is set to purchase the chain, taking over most of its 13 sites.
The takeover deal is allegedly taking place very soon, with it reported jobs could be lost during this time, the publication said.
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Gusto was first founded in 2005 by Jeremy Roberts and Tim Bacon from the Living Ventures Group, with the restaurant gaining private equity backing from Palatine in 2014.
Their website states: “We continue to do what we’ve done since day one: Make A Difference, Do The Right Thing, Look For The Good, and Share Our Passion & Knowledge.”
There are 13 locations across the country including right here in the heart of Brum.
The restaurant is situated on Colmore Row, and is a fan favourite for those looking to pop in for a bite to eat of the Italian cuisine.
Full list of restaurants:Alderley EdgeBirminghamCheadle HulmeCookridgeDidsburyEdinburghHeswallKnutsfordLeeds City CentreLiverpoolManchesterNewcastleNottinghamOxford
There is a variety of Italian food to choose from at the brand – from classic pastas to beef burgers, steaks and salads.
The chain calls its cuisine: “Our contemporary Italian menu takes fresh, carefully selected, simple ingredients to create the best tasting food and drink around.”
Gusto recently shut down a branch in the last year in Didsbury, Greater Manchester, with customers mourning the loss of the familiar restaurant.
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At the time a spokesperson for Gusto told the Manchester Evening News at the time: “As part of our commitment to delivering excellence across all locations, Gusto Italian continually reviews the performance and strategic fit of each of our restaurants.
“This proactive approach enables us to make well-informed decisions in the best interest of our business and our team.
“After careful consideration, and following an approach from a well-known high street retailer, we have decided to close Didsbury as a trading location.
“Didsbury has been part of the Gusto Italian family for many years, and we are deeply grateful to our loyal guests and community who have supported us over this time.”
Dining and Cooking