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Four FishWorks sites rescued; six close immediately

By Becky Paskin , 21-Jan-2009

Related topics: Business

FishWorks seafood restaurants have been rescued from administration, although six of the ten sites are to close immediately

Four of the ten FishWorks restaurants have been rescued from administration, after a midlands-based businessman bought the four most successful sites.

 

Ranjit Boparan of Boparan Ventures Ltd outbid an offer made by current owners Paul Goodale and Stephen Easthope, and will now continue to operate the four sites in Richmond, Swallow Street (London) Marylebone, and Bath.

 

The remaining six sites at Islington, Primrose Hill, Chelsea, Christchurch, Chiswick and Bristol, have been closed with immediate effect by administrators PricewaterouseCoopers (PwC), tallying a total loss of 90 jobs between them.

 

Boparan, who currently owns a number of businesses in the food sector employing around 5,000 people, said he wanted to concentrate on making FishWorks about ‘exceptional quality, service, and value.’

 

“We’re making a significant investment because we absolutely believe in the business and we believe in the brand. We’re in this for the long-term and we’re confident that our established expertise in tandem with the talents of the existing FishWorks team and the support of our loyal customers will turn the business around and give us a stable platform for continued future growth.”

 

PwC, who received five competitive bids for FishWorks, managed to save 95 jobs in the sale of the company to Boparan Ventures.

Keywords: fishworks, administrators, boporan ventures, rajit boporan, pricewaterhousecoopers

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