Fazenda restaurant chain rescued in turnaroundPrint news article
Walker Morris team advise Southern Wind Group on prepack acquisition of Fazenda restaurant chain saving hundreds of jobs
Specialist finance lawyers at Walker Morris have advised Southern Wind Group Limited on their prepack acquisition of a substantial part of the business and assets of City District Limited, which trades as the Fazenda Rodizio Bar & Grill alongside sister brand Picanha by Fazenda.
Begbies Traynor in Leeds were appointed joint administrators of City District Limited on 1 March. The new company, headed up by City District Limited’s former Chief Executive, Terence Langley and Managing Director Tomás Maunier, will continue to trade as ‘Fazenda’ and will retain the Leeds, Manchester, Edinburgh and Liverpool Fazenda sites, saving 243 jobs.
The acquisition also includes the recently launched e-commerce arm of the business, Fazenda at Home, where customers can continue to purchase quality meats and buy prepare-at-home meal kits.
Claire Askew led the Walker Morris team with support from Daniel Appleyard in the firm’s real estate team and Oliver Wheeler in the finance team.
Chief Executive of Southern Wind Group Limited, Terence Langley, said:
“The pandemic has meant that we have had to regroup and review to navigate the current climate as best we can and put the business in good stead in order to come back strong. We have high hopes that Fazenda will find the right place in Birmingham to operate in the near future, and we can continue on the growth path planned pre-Covid.”