Red's True Barbecue is bought out of administration
The barbecue brand's Liverpool restaurant will close as a result of the purchase, while its sites in Leeds, Manchester, Nottingham, Sheffield and Headingley will continue to trade.Red’s founders James Douglas & Scott Munro will both continue with the business.
Anthony Collier and Andrew Haslam, partners FRP Advisory LLP, were appointed joint administrators of Red’s Smoque Limited on 27 June 2019 after the business had suffered severe cash flow pressures following a period of challenging trading.
As part of the deal, Red’s sister company, microbrewery Legitimate Industries, has also been acquired.
“Red’s is an incredible brand with strong growth potential, the guys passion, creative yet rebellious attitude versus near cult status restaurants are a perfect synergy for both parties,” says Tokyo Industries founder Aaron Mellor.
Tokyo’s portfolio includes Bier Keller, Brew Haus and FAC251 Factory Manchester, and international locations including Ibiza, Los Angeles, Palm Springs, Croatia and Dubai.
“Red’s True Barbecue is a well-known name in the northern hospitality industry and we’re pleased to have secured a deal that first and foremost saves many jobs," says Administrator Anthony Collier. "We wish the team at Tokyo Industries all success as they take the brand forward.
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