500 Carluccio’s jobs at risk in rescue deal

CARLUCCIO’S has been given approval for a restructuring programme that could see it close dozens of restaurants, putting 500 jobs in doubt.

The Italian food business, founded by the late Antonio Carluccio in 1999, is embarking on a company voluntary agreement (CVA), which allows it to cut rents while it enters negotiations with landlords.

However, it is thought about 30 branches could close.

Carluccio’s said that it was moving staff to remaining outlets where possible and it would try to keep job losses to a minimum. 91pc of creditors, including landlords, approved the CVA yesterday. The firm required the support of 75pc of creditors to pass the plan.

Carluccio’s is owned by Dubaibased Landmark Group, which bought the company for £90m in 2010. To help in the months ahead, Landmark will invest a further £10m in the business.

Other restaurants that have undertaken CVAs this year include Byron, Prezzo and Jamie’s Italian. A number of retailers, including New Look and House of Fraser, have also prepared CVAs to stay afloat.