Gusto looks to CVA to secure its future

14 September 2020 by
Gusto looks to CVA to secure its future

Italian restaurant group Gusto has launched a CVA proposal to "secure the future of the business" following the impact of the Covid-19 pandemic.

Gusto operates 18 Italian restaurants across the UK.

It was part of the Living Ventures group before Palatine Private Equity supported a management buy-out in 2014.

A spokesperson for Gusto Italian said: "The Covid-19 pandemic has had a significant impact on our business, like many others in the hospitality sector. Following extensive consultation with advisors, it is clear that a CVA offers the best solution for all of our stakeholders and would secure the future of the business."

In July chief financial officer Frank Bandura told The Caterer: "My hopes are to see the business through this very, very difficult time. Restaurant businesses are not meant to be closed for four months. My real desire is to get the business through the reopening phase and leave it in a really strong position, serving customers and really getting back what it was great at."

Photo: Shutterstock

TagsGusto and CVA
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking