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London-based patisserie chain Caffè Concerto is launching a Company Voluntary Arrangement (CVA) in an effort to reduce its rent debt after facing legal action from one of its landlords. The Times ​ reports​​ that the group, which operates 20 sites in the capital, will use the CVA to try and force landlords to accept about 20p in the pound of what they are owed. Caffè Concerto director Stephano Borjak said it had been left with no option after landlords lodged court proceedings. Last week it was reported that both Caffè Concerto and burger brand Five Gu...

Burger brand Five Guys and café chain Caffe Concerto are both facing legal action over unpaid rent after one of their landlords filed respective county court claims against each operator. Court documents The Mail on Sunday​​​ show Criterion Capital has filed a £1.5m claim to recover rent from Five Guys, and a £284,000 claim against Caffe Concerto. It has also filed a seven-figure claim to recover rent owed from a third hospitality firm, which asked not to be named.  All three of Criterion Capital's legal claims have been made since June last year when ...

The end of the lease forfeiture moratorium will leave the hospitality sector facing a multibillion-pound arrears bill, with fears that a bloodbath for small businesses is just around the corner For anyone keen to garner a succinct understanding of the insurmountable challenge facing hospitality in the coming months, look no further than a tweet posted on 8 January by Loungers chairman and co-founder Alex Reilley. “END OF MARCH 2021,” it reads. “Debt moratorium (sic) ends! Payment of deferred Q1 2020 VAT & PAYE falls due! Business rates holiday ends! VAT rever...