Administrations

Leonard Curtis oversees Spudulike closure

Accounting firm Leonard Curtis has confirmed restaurant chain Spudulike has officially shut down after over 40 years of trading with immediate effect.

The closure was confirmed today (5 August) with all 37 retail stores and its head office closing on 2 August, 298 employees have been made redundant.

The company was forced to close after a prospective purchaser pulled out, due to a proposed CVA failing to be approved by landlords.

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Neil Bennett, joint administrator, said: “We are very disappointed with the outcome after working for several weeks firstly preparing a CVA proposal, which was rejected by the group’s creditors, and subsequently pursuing the sale of all or part of the Group’s business and assets with a number of prospective purchasers.

“We had to act quickly once the prospect of a going concern sale fell away to safeguard the assets of the companies operating under the Spudulike group. We worked with the group’s management team and staff in all outlets on Friday to effect as smooth a closure as possible at very short notice.”

Bennett added: “We are now focusing on seeking any interest in the group’s remaining assets whilst managing the impact of the closures on former employees, helping them prepare and submit claims for any arrears of wages, statutory notice entitlement and redundancy pay.”

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