Town Centre Restaurants ‘reviewing options’
28 May, 2012
Town Centre Restaurants, the operator behind the Café Giardino, Azzurro and Auberge brands, has hired consultants to advise on its future options, the Independent on Sunday reports.
Town Centre has called in Zolfo Cooper with a view to sourcing fresh investment in the business. It “is thought to have sounded out possible investors”, the paper reports.
Chief executive Mark Winter said Town Centre had called in Zolfo Cooper “to review its strategic options which could involve new investment in the business.”
Town Centre made a £6m pre-tax loss in the year to end-January 2011, on turnover “down marginally” at £21.5m, the Independent on Sunday says. It runs 31 Café Giardino sites in London and the south east, plus four Italian Azzurro restaurants in London Bridge, Waterloo, Woking and Portsmouth and two French Auberge restaurants in Waterloo and Mark Lane in the City.
For the full story, see Town Centre Restaurants seeks fresh investment.