The steaks and Malbec will be uninterrupted throughout Gaucho’s administration period, according to the group’s management team.
Gaucho went into administration last month in the face of a £1m bill from HMRC, sacrificing its 22-strong casual chain Cau in a bid to save the group’s 16 UK Gaucho sites. A buyer is now being sought, which the management team expects to be finalised within two to three weeks. In the meantime, it’s apparently business as usual, with CEO Oliver Meakin issuing a statement confirming that all 16 sites are profitable and ‘completely sustainable’.
Meakin is not only optimistic about a sale, but also for what it could mean for the group’s expansion, both in the UK and further afield. He spoke of six potential new UK locations and ambitions regarding Western Europe.
‘In addition, prior to the sale process, we were discussing a number of franchise opportunities in the Middle East with a local business partner,’ he said.
City AM identified a number of potential buyers for the group, including restaurateur Hugh Osmond and M Restaurants founder Martin Williams, as well as founder Zeev Godik, who left the company in 2017.