The investment capital company which has taken control of the side, the French catering chain, at the height of the pandemic, launches an auction of the company
Sky News has learned that Partners Group is working with Interpath Advisory on finding new investors in Cote.
Cote was bought by the administration by Partners Group in the fall of 2020 in an agreement worth 55 million pounds Sterling.
Sources close to the sales process indicated that interpath was marketing the company according to the turnover of more than 150 million pounds Sterling last year.
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The chain is negotiated from more than 70 sites across the United Kingdom, almost 100 shortly before its collapse in insolvency five years ago.
About 60 of the sites would be profitable, which implies that there could be a range for new closures.
The sale arrives at a time when hospitality Place operators continue to deal with serious financial pressures, with the first commercial body of the industry warning another blood work in the coming months.
“If we continue these trends and the situation does not improve – and clearly Rachel Reeves’ statements give consumers a signal that this will not improve so early – then I would see this acceleration,” said Kate Nicholls, president of Hospitality Uk.
“Unless there is a change of collaboration by the government, we examine 150,000 to 200,000 less hospitality workers during the first full year of modifications (national insurance contribution).”
The group of partners refused to comment, while Interpath could not be joined to comment.