Gusto restaurants owed £11.9m to creditors

Italian restaurant chain Gusto owed roughly £11.9 million to creditors when it was acquired out of pre-pack administration last month. Seven of the group’s 13 restaurants were sold to Cherry Equity Partners, the investment firm led by hospitality veterans Ed Standring and Jamie Barber, saving more than 300 jobs, while the process also resulted in the closure of six Gusto restaurants and around 190 redundancies.

More from The Caterer.