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HomeBusiness NewsGaucho steakhouse rescued from administration

Gaucho steakhouse rescued from administration

by LLB Reporter
5th Sep 18 1:10 pm

Struggling Gaucho has been rescued from administration by banking groups Investec and SC Lowy, subject to the rescue deal being agreed with landlords and other creditors.

‘We know the Gaucho team well and have significant confidence they can reinvigorate and grow the Gaucho brand. We believe the creditor group will support the necessary CVA allowing Gaucho shortly to exit administration so we can take the business forward,’ said Investec.

The sale is expected to complete in mid-October after the approval of the CVA.

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