The major restaurant chain Côte has been put up for sale, with 70 locations at risk of closing down, it’s reported.
Partners Group, the private equity firm that took control of the French themed restaurant at the height of the pandemic, is looking for new investors, according to Sky News.
Côte was brought out of administration by Partners Group in 2020 in a deal said to be worth £55 million.
Interpath is marketing the company based on 2024’s turnover of more than £150 million, sources close to the sale sale.
Côte currently has more than 70 locations across the country, compared to around 100 before it went administration.
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Earlier this month London restaurant chain Ping Pong closed down after more than two decades on the high street.
The dim sum specialists, founded in Soho in 2004, had 13 branches at their peak before slimming down to four more recently.
Kate Nicholls, chair of UK Hospitality warns many more restaurants will shut if action isn’t taken soon.
‘If we carry on with these trends and the situation doesn’t improve — and clearly Rachel Reeves’s statements are giving a signal to consumers that it is not going to get better any time soon – then I would see this accelerating,’
‘Unless there is a change of tack by the government, we are looking at 150,000-200,000 fewer workers in hospitality during the first full year of [employer national insurance contribution] changes.’
The Metro has contacted Partners Group for comment.
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