Gusto, the UK-based Italian restaurant chain, is set to be acquired by Cherry Equity Partners in a pre-pack administration deal that will preserve 300 of its 500 jobs. This transaction follows the company’s announcement of its intention to appoint an administrator.
The deal, orchestrated by insolvency firm Interpath Advisory, comes after Gusto faced significant financial challenges amid ongoing pressures in the hospitality sector. As part of the deal, six locations will be closed, leading to the loss of approximately 190 positions, predominantly from smaller suburban sites that have struggled financially in recent times.
Cherry Equity’s acquisition marks the firm’s third restaurant purchase in six months and highlights its commitment to the UK hospitality industry. The new owners aim to stabilise the brand and set a foundation for future growth despite the current economic challenges facing the sector. Gusto’s leadership expressed regret over the closures and thanked its employees and customers for their support.
