Putney Says Ta Ta To Tootsies
Riverside restaurant becomes latest victim of recession
Following months of financial difficulty rumours, Tootsies today became the latest victim of the recession as it fell into administration.
Parent company Clapham House Group, who also own Gourmet Burger Kitchen and Real Greek chains, withdrew their funding to free up capital to invest in developing their other 'more successful' brands.
In a statement Clapham House said:
The sale of 11 of the 21 Tootsies restaurants has already been agreed by administrators BDO in an estimated £2.5m deal with competitor Giraffe.
“This is a deal that will transform Giraffe and it shows how ambitious we are for the business.” Giraffe's Luke Johnson told industry publication Caterer.
The company plans to rebrand the Tootsies sites over the coming months however it is not yet known if the Putney branch was included in the deal.
October 16, 2009