AS GAUCHO FALLS INTO ADMINISTRATION EX GAUCHO MD & M RESTAURANTS FOUNDER ANNOUNCES 15% LFL GROWTH FOR TWELVE MONTHS ENDING MAY 2018 & A NEW OPENING
Martin Williams, the founder of M Restaurants with venues in Threadneedle St, Victoria St and Twickenham, has reported LFL results for the 12 months up to and including May 2018 at 15% growth. Williams, who as previously reported, bid last month to save GAUCHO from falling into administration commented on the restaurant group that he helped to build:
“As was previously reported when ‘administration’ was first declared as a likely forecast, it saddens me that Gaucho and CAU are in the situation they are in and we tried to include an acquisition of the brand within our growth strategy. The Gaucho outcome saddens me greatly! We tried to help, but our bid wasn’t taken through to the last stages. We have since targeted some key sites in Central London which we feel would benefit from our multi-faceted, award-winning M venues”.
In stark contrast, M Restaurants has today announced industry beating results. Furthermore, last week, M exchanged contracts on an undisclosed ‘Iconic venue in the financial district of London’ due to open in 2021. There are plans to open further venues this and next year.
Williams said, “We are delighted that in such a challenging environment, we have managed to build the demand and reputation of our ‘Heightened Hospitality’ and our aspirational yet accessible food and beverage offerings to double digit growth. The results are a reflection of the incredible work that my highly talented senior management team have dedicated to M in the past twelve months- They are now ready for the next challenge!”
Martin is available this afternoon (18th July) and can give further insight into M’s financial results. Please contact Natasha Goldsmith at email@example.com myself, Jo Barnes on firstname.lastname@example.org.