Top Italian chain Carluccio's is entering administration after being hit by the coronavirus. They are expected to appoint administrators soon after being a fixture on British high streets for 20 years, Sky News reports.
Carluccio's is reportedly lining up FRP Advisory, one of the UK's biggest corporate restructuring specialists, to take the lead on an insolvency process that will put more than 2,000 jobs on the line.
It will be difficult for the business to find a buyer without an insolvency process as it has had to close its 73 UK restaurants during the Covid-19 pandemic and is not currently generating revenue.
Staff were told earlier this week they would only receive half their usual pay for the month of March due to a rapid decline