The entrepreneur behind the Bar Estilo group, which comprises seven casual-dining restaurants, has appointed advisers to sell the business, M&C Report understands.
Owner David Charalambos is understood to have appointed Coffer Corporate Leisure to handle the sale, with an asking price of £13m.
The group, which is entirely leasehold, is thought to produce underlying annual earnings of between £1m and £1.5m.
It operates four tapas restaurants under the Bar Estilo brand – in Esher, Richmond and Teddington plus one in Birmingham. It also operates a further three under the name Red Peppers – in Esher, Teddington and Birmingham.
A number of casual-dining groups are thought to have looked at the business for its sites although the asking price is considered to be on the high side.
