Barburrito to close three sites under restructuring deal

04 December 2020 by
Barburrito to close three sites under restructuring deal

Mexican restaurant chain Barburrito is to close three sites as part of a restructuring deal to secure new investment for the business.

Locations in Aberdeen Union Square, Edinburgh Lothian Road and Manchester Deansgate are to shut permanently.

Barburrito's remaining 14 stores in London, Liverpool, Leeds, Sheffield, Nottingham, Glasgow and Edinburgh will keep trading, protecting more than 270 jobs.

Barburrito chairman Graham Turner has led a new investment in the business, alongside other private investors. The move is backed by the existing management team of founder and chief executive Morgan Davies and finance director Steve Herring.

RSM Restructuring Advisory oversaw the deal.

Davies said: "I am delighted that we have secured the future of Barburrito, just ahead of our 15th birthday. The last few months have been extremely challenging for the whole sector. The high street is changing fast and my heart goes out to all those affected. Despite this, we have done really well in the stores that have remained open and, in particular, we have demonstrated the success of our delivery offering.

"In common with many in our sector, the closures and liabilities accrued during lockdown have resulted in us having to restructure the business. However, with the new investment, support of our landlords and the hard work of our fantastic teams, Barburrito is now well positioned to succeed in this new landscape."

Barburrito was founded by Davies and Paul Kilpatrick in Manchester in 2005.

In 2014 it secured a £3.6m investment from the Business Growth Fund to expand the business.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking