POPULAR French restaurant chain Côte Brasserie is reportedly up for sale – with some sites at risk of closure.
The upmarket bistro chain, loved for its croque monsieurs and steak frites, is seeking new investment with private equity firm Partners Group.
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Côte Brasserie currently operates around 70 restaurantsCredit: Alamy
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But the sale process now puts some branches at riskCredit: Peter Jordan
While around 60 branches are said to be profitable, insiders warn that under-performing locations could be axed if no buyer is found.
However nothing has been decided yet.
Private equity firm Partners Group, which rescued Côte from collapse in 2020, has now called in Interpath Advisory to find a buyer, according to Sky News.
Full list of Côte Brasserie locations currently operational:BarbicanCovent GardenHay’s GalleriaKensingtonMaryleboneSloane SquareSohoSt Christopher’s PlaceSt Katharine DocksSt Martin’s LaneSt Paul’sBarnesBlackheathChislehurstChiswickEalingKingstonMuswell HillRichmondRoyal Festival Hall TeddingtonWimbledonBasingstokeBluewater BrightonCanterburyChichesterEsherFarnhamGuildfordHanley on ThamesHorshamLewesMarlowNewburyOxfordReadingReigateTunbridge WellsWinchesterWindsorWokingWokinghamBathBournemouth Bristol – Clifton VillageBristol – Quaker FriarsCheltenhamCirencesterDorchesterExeterSalisburyWest BridgfordBishop’s Stortford Bury St EdmundsCambridgeChelmsfordNorwichPeterboroughSt AlbansWelwyn Garden CityCardiff BayCardiff Central ChesterLiverpoolNewcastleYorkEdinburghLeamington SpaShrewsburySolihull Worcester
It comes after Chair of UK Hospitality, Kate Nicholls, said: “If we carry on with these trends and the situation doesn’t improve – and clearly Rachel Reeves’s statements are giving a signal to consumers that it is not going to get better any time soon – then I would see this accelerating.
“Unless there is a change of tack by the government, we are looking at 150,000-200,000 fewer workers in hospitality during the first full year of [employer national insurance contribution] changes.”
Huge restaurant chain ‘up for sale’ putting 70 sites at risk of closure
What is happening to the hospitality industry?
By Emily Mee, Consumer reporter
RESTAURANTS and pubs have faced a series of blows in recent years.
The pandemic had already hit businesses hard as hospitality venues were forced to close during lockdowns.
Then they were dealt another blow when the cost of living crisis ramped up, causing customers to spend less on eating out.
At the same time they’ve been dealing with higher costs of things like energy, rents and supplies.
More recently they’ve also been hit by the Government’s hike in National Insurance costs for employers.
At the same time, the national minimum wage increased – making it more expensive to hire employees.
It’s led to numerous chains collapsing or having to close sites in recent years.
TGI Fridays collapsed into administration last year, although has since launched a huge comeback after being forced to close 35 restaurants.
Britain’s largest fish and chip chain, Deep Blue Restaurants, has also sold off five of its popular sites.
The brand owns popular chain Harry Ramsden’s.
Plus, dim sum chain Ping Pong has closed all of its locations across the country after reporting it had faced “significant disruption” due to the pandemic.