Cain International mulling insolvency process for Italian chain Prezzo – report Cain International mulling insolvency process for Italian chain Prezzo The private equity firm which bought Italian chain Prezzo in December is reportedly mulling putting the restaurant group through an insolvency process. Sky News reported that Cain International was considering a number of options, including pre-pack administration, as uncertainty over the future of the casual dining sector goes on. The firm, which also owns Swingers [...]
Italian restaurant chain Prezzo bought by private equity firm Cain International Italian restaurant chain Prezzo has been bought by private equity firm Cain International, the companies announced this afternoon. Cain International, which also holds stakes in Competitive Socialising – the owner of Swingers crazy golf – and women’s private members club The Allbright, said Prezzo has outperformed the struggling casual dining sector over the last 12 [...]
Prezzo shuts 46 branches including four in London as 810 jobs put at risk Slice of misfortune Prezzo will shut 46 loss making sites across the UK including three in London and place 810 workers at risk of redundancy, as soaring energy and a hike in food costs rattle the business. The Italian restaurant chain, which is owned by private equity firm Cain International said that the closures will impact sites where [...]
Real estate developer Firethorn sells logistics assets to Cain for £550m March 2, 2022 Real estate developer Firethorn Trust has inked a deal to sell its UK logistics portfolio to investment firm Cain International for £550m. The portfolio includes seven sites in the UK, totalling 3.25m sq ft across 22 assets, including two newly built developments. The sale also includes five consented land sites that are on set for [...]
Spring Budget 2024: Jeremy Hunt could back £450m ‘Hollywood of the North’ March 4, 2024 Plans for a £450m film and TV studio in the North East of England could be backed by Chancellor Jeremy Hunt when he unveils his spring Budget later this week.
Who owns Chelsea now? How much did Todd Boehly and Clearlake pay Abramovich in 2022? November 28, 2023 All you need to know about who owns Chelsea.
City Moves: Who’s switching jobs in the Square Mile? June 16, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Cromwell Real estate investor and fund manager Cromwell Property Group has hired an abrdn veteran as its new head of investment management for Europe. Having spent a decade at abrdn, Andrew Creighton is set to oversee all [...]
Prezzo to shut 22 restaurants after insolvency deal February 10, 2021 Italian chain Prezzo will permanently close 22 restaurants after being bought out of pre-pack administration by private equity firm Cain International. As a result of the deal, 22 of the high street stalwart’s 178 restaurants will not reopen. Cain said that 216 of its 2,900 jobs would be lost. The deal came after Prezzo was [...]
FRP Advisory reports dip in insolvency jobs as government measures stave off corporate collapses May 14, 2021 FRP Advisory reported a drop off in restructuring appointments in the last financial year as government financial aid protected many businesses from collapse during the Covid pandemic. The professional services firm, which plans to pay a dividend for the year, said the number of insolvency appointments it secured in the last 12 months was down [...]
Swingers goes stateside: Crazy golf club to open venues in New York and Washington March 10, 2021 Crazy golf club Swingers has today announced that it will launch in the US later this year, with two new venues in Washington D.C. and New York. The long-awaited stateside expansion comes on the back of a £20m funding raise backed by private equity group Cain International. Swingers said that its new venue in Washington [...]