Purpose: Administration

Task: Vacate 22 national retail restaurant sites in a short timescale, maximise realisations and minimise Creditor exposure.

Sector: Restaurant

Instructed by the Administrators to implement an exit strategy for the 22 sites in order that they could be handed back to the respective Landlords in an orderly fashion.

Utilising our partnership with Sanderson Weatherall LLP we were able to attend the sites over a two day period with the objective of:

  1. Removing third party assets to, two centralised locations,
  2. Cleaning the restaurant and removing all food waste
  3. Effecting sales of the removable items of plant

The third party assets were collected at two locations, where they could be identified and claimed. Items not claimed were sold by a series of timed online auctions and privately negotiated sales.