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LEISURE | Restaurants / Specialty Restaurants
lebistrotpierre.co.uk

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Stage

Private Equity | Alive

Total Raised

$14.59M

Last Raised

$14.59M | 6 yrs ago

About Le Bistrot Pierre

Le Bistrot Pierre is a restaurant group that offers French cuisine. The business now has a family of 14 bistrots located across a variety of locations, from large city centers such as Cardiff and coastal bistrots in Torquay to shopping centers in Newport and market towns like Leamington Spa.

Le Bistrot Pierre Headquarter Location

19 Milton Street Milton Chambers

Nottingham, England, NG1 3EU,

United Kingdom

Latest Le Bistrot Pierre News

Middlesbrough's Bistrot Pierre to close after restaurant chain rescue deal

Jul 15, 2020

Middlesbrough's Bistrot Pierre to close after French restaurant chain rescue deal The Albert Road site is among six to close across the UK, while 19 restaurants will become part of the new firm Share Latest Teesside headlines straight to your inbox Subscribe When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time. Thank you for subscribingSee our privacy notice Invalid Email A popular Teesside restaurant is among six across the UK which are closing its doors following a pre-pack administration deal. Bistrot Pierre has been acquired by a new firm named after the year the business was founded, but the Middlesbrough eatery is not on the list of the 19 restaurants which form part of the new firm. The Albert Road venue staff are among 123 workers who have lost their jobs following the deal, overseen by administrators at KPMG. The chain opened in Middlesbrough in 2017 . It invested around £1m into the new restaurant , which had capacity to seat more than 200 diners in the restaurant and traditionally Parisian styled outdoor terrace seating. At the time of opening, the restaurant created around 50 jobs. The deal saves 681 of Bistrot Pierre’s 803 employees and 674 of them are now returning from furlough. Will Wright and Steve Absolom from KPMG UK’s restructuring practice were appointed joint administrators of Le Bistrot Pierre Limited yesterday, July 14, and immediately following their appointment, the joint administrators concluded a sale of the business and certain assets to connected party, Bistrot Pierre 1994 Limited. The company, based in Nottingham, will close sites at Bath, Cardiff, Harrogate, Leicester, Middlesbrough and Sheffield. Steve Absolom, joint administrator and partner at KPMG, said: “COVID-19 and the prolonged lockdown period has presented large swathes of the casual dining sector with significant funding challenges, and Bistrot Pierre has been far from immune. “Despite exploring all alternative options, including relief schemes like the Coronavirus Business Interruption Loan, the directors took the difficult decision to file for the appointment of administrators. “We are pleased to have been able to conclude a transaction which preserves the majority of the business and associated jobs, ensuring the chain’s 25-year presence on local high streets can continue.” The company has already reopened its restaurants in Derby, Eastbourne, Plymouth, Leamington Spa, Stratford-upon-Avon, Torquay and Weston-super-Mare. Meanwhile, sites in Altrincham, Birmingham, Coventry, Ilkley, Kidderminster, Mere Green, Nottingham, Preston, Southport and Stockton Heath are to open by the end of this month, while restaurants in Mumbles and Newport, will reopen on in August. TeessideGazette

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