Fried chicken and waffle concept Bird has been sold in a pre-pack administration to the hospitality and catering business Crown Partnership, MCA has learnt.

As part of the deal, Bird’s Shoreditch restaurant closed on 12 August, when administrators BM Advisory were appointed.

It leaves Bird with three restaurants, in Islington, Camden and Westfield Stratford, and a concession in Wharf Kitchen.

Co-founder and MD Paul Hemings said: “We are thrilled to have secured a better future for the brand and our amazing team. We look forward to working with Crown and being supported by their depth of experience.”

Bird filed a notice to appoint administrators last month after experiencing cashflow problems and a loss of its overdraft banking facility.

Hemings, who co-founded Bird with his wife Cara Ceppetelli added that the brand still hopes to open a long-awaited site in Brixton later this year.

Andrew Pear comments: “The restaurant sector has, in recent years, experienced a significant downturn in trading conditions as a result of ongoing political and economic uncertainly. The funding market for small and medium sized businesses in the sector has narrowed, and the knock-on effects of this resulted in the company experiencing cashflow difficulties and, ultimately, insolvency.”

“We are very pleased to have concluded a sale of the business and assets in short order, maximising realisations whilst preserving the business and therefore the employment of the majority of employees. We wish the business every success in the future.”

 

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