Administrators cook up deal for Leeds rib shack

Chicago Rib Shack, which has a site at Leeds’ Trinity shopping centre, has been saved from administration.

The American BBQ restaurant chain, based in London, was sold in a pre-pack deal, rescuing four restaurants, including three in London and the Leeds Trinity Kitchen site, from closure.

The move saved 72 jobs, which have been transferred over to the new company Rib Shack Holdings Ltd.

Quantuma partners Andrew Hosking and Simon Bonney were appointed to Chicago Rib Shack Ltd on 28 July and subsequently made the deal.

Andrew Hosking said: “There was insufficient working capital and no prospect of persuading new funding. The decision to appoint administrators was taken to allow medium term trading to continue in order that the business and assets could be exposed thoroughly to the market.

“We are pleased we have been able to effect a very quick sale to Rib Shack Holdings Ltd and save 72 jobs, all without any significant disruption trading.”

Last year it was forced to close another site in Camden, whilst another site in Twickenham, which is included in the administration, is currently closed and under refurbishment.

Chicago Rib Shack Ltd was founded in 2010 and had an annual turnover of over £4m in its last reported financial year.