Upmarket Leisure Ltd - Administration

Upmarket Leisure Ltd, which operates Gino D’Acampo’s and other branded restaurants and bars across the UK and Europe, was purchased out of administration on 29 April via a pre-pack deal that will save approximately 400 jobs.

Upmarket had reportedly been struggling to pay its debts and had been issued with a winding up petition by HMRC in March following a failed attempt to sell the business.

Shortly after the appointment of Dean Watson and Paul Stanley of Begbies Traynor as joint administrators, the business was sold for £5 million to a buyer whose identity has not been disclosed.

Simon Clarke and Peter Cowgill have registered charges against the company.