The entrepreneur behind the Bar Estilo and Red Peppers concepts, which comprises six casual-dining restaurants, has appointed advisers to sell the business, MCA understands.

It is understood that the concepts’ owner, industry veteran David Charalambous is considering retiring from the sector after 41 years and has appointed Richard Negus of AG&G to advise on options for his restaurant portfolio

The restaurants are located in Esher, Teddington and Mailbox Birmingham and are believed to have a combined average net of VAT annual sales over last five years of £7m and EBITDA of circa £1m.

It is understood that AG&G is also advising on a nightclub and empty restaurant unit (both in Richmond), plus premises already with planning permission to extend Red Peppers Teddington into.

The business is available either as a group or as individual units. It is thought that the package will appeal to established trade operators and local businesses alike.

In 2015, the company sold its Bar Estilo site in Camberley to Byron. In 2012 it sold its Bar Estilo site in Richmond to Bill’s.

Bar Estilo currently operates sites in Birmingham, Esher and Teddington. It also operates Red Peppers outlets in those same three locations.