Bistrot Pierre to file for administration, say reports
Nottingham-based restaurant chain Bistrot Pierre is set to file for administration today (3 July), according to reports.
Hospitality trade title Propel says that the chain, which has 25 restaurant across the UK, has been in talks with entrepreneur Luke Johnson as well as London-based investment firm Inspirit Capital, but no deal could be agreed.
Placing the company into administration will see current backer Livingbridge agree a deal on the group’s debt, which it is struggling to pay, and continue to fund the firm through a pre-pack deal.
Propel says that none of the chain’s venues are loss-making.
A spokesperson for Bistrot Pierre told TheBusinessDesk.com earlier this month: “Bistrot Pierre has been working with KPMG for the past 10 weeks as it looks to unlock the various government support schemes and understand new legislation associated with these.
“KPMG is also helping Bistrot Pierre in its discussions with various stakeholders, including the company’s bank and its investor Livingbridge, in order to secure the funds it needs to reopen its restaurants across the UK.”