Two major restaurant chains are going into administration along with a famous name from Rugby League.
Hopefully your business is in full swing, full of Christmas spirit and enjoying a busy period before a well-deserved break!
So before things get even busier, we hope you’ll grab a moment to catch up on all the interesting and important business & insolvency news stories you might have missed in the past seven days.
So if you want to know why it’s not a wonderful life if you receive a CCJ before Christmas; Why a Time To Pay arrangement could give you and your business space to breathe; Why closing your solvent business with an MVL is a great gift directors can give themselves and why Insolvency legend Kevin Pinkerton is joining BusinessRescueExpert – you can read all these stories and more at our advice centre page.
TGI Fridays
Weeks after being taken over by new owners, TGI Fridays in the UK has filed a notice of intention to appoint administrators.
Liberty Bar and Restaurant Group has announced the filing after Sugarloaf, the manager of the worldwide TGI Fridays brand acquired the rights to the 49 British venues.
Phil Broad, president of TGI Fridays international franchising confirmed that all 49 restaurants would stay open throughout the Christmas period.
He said: “The directors of TGI Fridays UK can confirm that a notice of intent to appoint administrators was filed with the court. This step brings the new owners, who assumed control last month, closer to securing and strengthening the long-term future of TGI Fridays in the UK.
“The priority is to protect TGI Fridays employees and its restaurants and we want to express gratitude to all stakeholders for their patience during this process. We also want to reassure guests that all locations remain open throughout the holiday period, delivering the welcoming, celebratory experience that TGI Fridays is known for.”
Sugarloaf acquired TGI Fridays for an undisclosed sum in October, a year after it was bought out of administration for £9.55 million. Sugarloaf is led by Ray Blanchette, who previously ran TGI Fridays for five years until 2023 and took over management of the brand’s remaining US restaurants after it filed for bankruptcy protection in 2024.
Leon
A national fast-food chain with 71 outlets has announced it is entering administration ahead of setting up a CVA deal with its creditors.
Leon was purchased by co-founder John Vincent from Asda last month and he said that “for the purpose of formulating proposals for a Company Voluntary Arrangement (CVA) to help accelerate the restructuring of the business.”
In a statement, the company said that Vincent and his team “the immediate priority is to reduce the number of loss-making restaurants.”
Leon blamed “changing work patterns, brought on by the Covid-19 pandemic and tax increases which have combined to place further strain on the business and the wider hospitality industry in recent years.”
Leon is now expected to “spend the next few weeks discussing the plans with its landlords and advisors, laying out options for the future of the company. Leon then plans to emerge from administration as a leaner business that can return to its founding values and principles more easily. In the meantime, all the group’s restaurants remain open serving customers as usual.”
Leon was founded in 2004 by John Vincent along with Henry Dimbleby and Allegra McEvedy. It currently has 71 restaurants, operates 44 owned sites and has 22 franchised locations.
Featherstone Rovers
A Championship Rugby League side have applied to go into administration due to “serious financial difficulties”.
Featherstone Rovers were due to face a winding-up hearing in the High Court over unpaid debts but hope to secure an adjournment as an administration halts legal action against a company while it considers its next move.
The men’s side play in the second tier of Rugby League in the Championship while the women’s side won promotion back to the Super League this year.
A statement from the directors said: “We were unable to trade our way out of the present situation due to the level of debt we currently have.”
The club’s participation in the 2026 season has been in doubt for a few weeks although last month the club was included in the draw for the opening rounds of the Challenge Cup.
The statement continues: “We continue to be in dialogue with the Rugby Football League regarding a new club participating in the league and cup structure for the season ahead. It is a regrettable course of action for all concerned, but ultimately, the only course of action available.”
The club recently leased its Millennium Stadium ground to Wakefield AFC in recent years although the arrangement ended last month when the club moved to a new home in Pontefract.
Lussmans
A renowned restaurant chain has been purchased from its owner in a pre-pack administration deal, with the closure of two of their seven locations.
Lussmanns was founded by Andrei Lussman in 2002 and blamed a downturn in the economy and an upturn in costs for the challenging trading conditions that had resulted in the closure of the Highgate and Berkhamsted locations.
Mr Lussmann said: “It’s with a heavy heart that we’ve had to close these two restaurants.
“Make no mistake, it is tough running restaurants right now. Our remaining five restaurants remain profitable and we’ll re-double our focus on ensuring St Albans, Harpenden, Hertford, Hitchin and Woburn continue to be the locals’ favourite sustainable restaurants as they have been for many years.
“The restructure has put the company on a much firmer footing to combat the challenges the sector continues to face, ready to grow again when the opportunity arises.”
F4 Company
A Nottingham based patient transportation company has been acquired out of administration in a pre-pack deal which has safeguarded a number of roles but “some job losses will be unavoidable.”
F4 Control, trading as first4care, had relied on a major patient transport contract with a large regional NHS ambulance service. Following the decision to reduce the scope of this large contract due to budget pressures, F4 Control faced “significant cashflow difficulties and growing liabilities” with its other NHS contracts in the Yorkshire region “not sufficient to sustain operations.”
The business and certain assets have been sold via a pre-pack deal to Human Touch Ambulance Limited “to protect continuity of patient transport services and preserve as many jobs as possible.”
The administrators said this approach “secures ongoing service provision and delivers a better overall return for creditors.”
York Handmade Brick
A former award-winning North Yorkshire brick company has gone into administration.
York Handmade Brick was founded by David Armitage in 1988, as a fifth-generation brickmaker. He said he was currently negotiating a sale for the company and is hopeful that the 16 jobs employed will be saved.
“We’re extremely proud of what we’ve achieved over the past 38 years, providing bricks for many beautiful and historic buildings in Yorkshire, across the UK and in Europe and at the height of our success employed 26 people.
“We believe we have made a very positive and lasting contribution to the built environment, proving time and time again that brick is the most attractive building material.”
Over the years York Handmade Brick supplied bricks to The Shard Skyscraper, the London Bridge Railway Station and the restoration of St Albans Cathedral in Hertfordshire.
Mr Armitage continued: “Along the way we’ve won a host of awards including supplying bricks for the new library at Magdalene College in Cambridge which won the 2022 RIBA Stirling Prize, the most prestigious honour in the world of architecture. We’ve also featured regularly amongst the winners in the Brick Development Association’s Brick Awards, the Oscars of the industry.”
He blamed a combination on a 100% increase in gas prices and a hike in National Insurance Contributions for employers.
While we might have the busiest period of the year to contend with, it’s never too early to begin planning for next year – especially if your business is being buffeted in the seemingly never-ending economic storms.
Get in touch with us to arrange a free initial chat with one of our advisors. Once they get a better idea of the circumstances you face along with your plans then they’ll be able to let you know what practical options you have to improve your situation – usually more than you thought.
The sooner you make contact, the sooner you can begin to move forward to the future you want in 2026 and beyond.