The First Dates restaurant in Manchester could close, as owner Drake & Morgan looks for breathing space
The restaurant group behind the restaurant plans to enter a CVA
The Refinery has been used by Channel 4 for First Dates since 2020 (Image: Colin Horne - Manchester Evening News)
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Drake & Morgan to enter a Company Voluntary Arrangement Bar and restaurant group Drake & Morgan is to enter a Company Voluntary Arrangement (CVA) in order to help it recover from prolonged closures due to the Coronavirus pandemic.
The decision follows a strategic review of the business and will lead to the closure of three of group’s 22 bars and restaurants. All team members in affected sites will be offered alternative roles within the company, it says.
The proposal seeks the support of landlords and, together with the backing of other creditors in recent months, will secure the long-term future of the business, according to the company.
Topshop in Bristol s Cabot Circus emptied after Arcadia Group collapse
The Arcadia Group collapsed in November 2020 with a £750million deficit
Updated
Topshop in Cabot Circus has been emptied (Image: Bristol Live)
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Topshop has mounted a discounting frenzy with items on sale on its website for as little as £1 as the former High Street favourite desperately tries to shift stock.
Tops are on sale for £2.40 and blouses for £6, two weeks after the chain s parent company Arcadia owned by retail tycoon Sir Philip Green sank into administration.
But branding experts have claimed the widespread bargain basement offers may devalue Topshop s reputation as a buyer is sought to pull it out of trouble.
Mike Ashley s Frasers Group and Boohoo could be bidders for the fashion retailer, which is still trading and valued at £200million while a rescue package is sought.