• Text size      
  • Send this article to a friend
  • Print this article

Chain gets approval to cut rent

THE restaurant chain behind Cafe Rouge and Bella Italia has won the approval of landlords to cut its rents as part a major restructuring by its new owners.

The group, which runs 290 outlets and employs 7,000 staff, has negotiated a company voluntary arrangement with its landlords which will allow it to ease the terms of its rent.

Separately it is arranging a debt for equity swap with lenders to cut borrowings.

Tragus Group was bought by a consortium, led by private equity firm Apollo Capital Management, from Blackstone earlier this year.

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.