Middletons Steakhouse & Grill’s future has been secured after the business was successfully sold out of administration, ensuring the retention of 159 roles.
Joint administrators Tim Bateson and James Clark of Interpath were appointed to Gastro Pubs Limited, the operator of the Middletons brand, on Friday, 14 November.
Following their appointment, the joint administrators concluded a sale of the business to a newly formed group owned by Middletons’ existing shareholders.
Under the agreement, all seven Middletons locations—Chelmsford, Colchester, King’s Lynn, Leicester, Milton Keynes, Norwich and Peterborough—will continue trading as normal.
Interpath said the restaurant group had been operating in difficult market conditions, with rising labour costs and subdued consumer confidence putting significant pressure on the business.
Middletons’ directors explored a range of strategic options, including a potential sale, but ultimately appointed administrators after exhausting all viable alternatives.
Tim Bateson, director at Interpath and joint administrator, said: “Hospitality businesses up and down the country continue to battle hard in the face of strong trading headwinds.
“Whilst these challenges proved insurmountable for Gastro Pubs Limited, we are pleased to have concluded this transaction which will allow the company’s seven Middletons Steakhouse & Grill restaurants to continue trading, preserving the jobs of their loyal staff.”
Middletons Steakhouse & Grill launched its first restaurant in Middleton, Norfolk, in 2011 and has since expanded across the Midlands and the East of England.