Carlyle, the US private equity firm, has made a bid to buy Gaucho out of administration, Sky News reports.
Carlyle is understood to have lodged an offer for Gaucho earlier this week, with final bids for the group due yesterday.
The development comes after Carlyle acquired more than a third of Prezzo’s senior debt earlier this year with the aim of forcing through a debt-for-equity swap and installing its own chief executive, which ultimately proved unsuccessful.
While all 22 CAU sites have closed with immediate effect, the eponymous Gaucho brand is still understood to be trading well, and it is believed a buyer will be found for the brand.
Carlyle has invested in restaurant operators around the world, and holds a stake in the master franchisee responsible for 3000 McDonald’s stores in China, Hong Kong and Macau.
It is also a backer of Alamar Foods, the master franchise operator of Domino’s Pizza across the Middle East and North Africa region.
Core Capital, Sun Capital and Limerston Capital, are all understood to have shown an interest, with an offer by current owner Equistone, which acquired the business for c£100m at the start of 2016, rejected.
Gaucho’s ex-managing director Martin Williams, founder of M Restaurants, has also looked at making a bid for his former company, whilst private equity firm Endless has been linked with making a play for all or part of the business.
Deloitte is handling the administration.
