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Little Chef 'in takeover talks' | Little Chef 'in takeover talks' |
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Roadside food retailer Little Chef is reported to be in takeover talks, less than 18 months after the business last changed ownership. | Roadside food retailer Little Chef is reported to be in takeover talks, less than 18 months after the business last changed ownership. |
The Daily Telegraph and the Financial Times reported the chain, set up in 1958, to be in discussions with Israeli property firm Arazim about its future. | |
The business has been struggling financially and has been reported to be losing up to £3m a year. | The business has been struggling financially and has been reported to be losing up to £3m a year. |
More than 20 million people visit Little Chef outlets every year. | More than 20 million people visit Little Chef outlets every year. |
The BBC's Business Editor Robert Peston said he expected the firm's owner to make an announcement about its future on Wednesday. | |
The business, which employs 4,000 staff, was bought last year for £52m by its chief executive Simon Heath and the People's Restaurant Group headed by catering magnate Lawrence Wosskow. | The business, which employs 4,000 staff, was bought last year for £52m by its chief executive Simon Heath and the People's Restaurant Group headed by catering magnate Lawrence Wosskow. |
LITTLE CHEF HISTORY The first Little Chef restaurant opened in Reading in 1958It now has 230 outlets, from Scotland to Cornwall, serving 10 million cups of tea a year | |
Little Chef is best known for its all-day fried breakfast, although the firm has attempted to broaden its menu in recent years, introducing salads and healthy options. | |
Little Chef's former owners include private equity firm Permira and catering firm Compass. | Little Chef's former owners include private equity firm Permira and catering firm Compass. |
Neither Little Chef nor Arazim have commented on its future. | Neither Little Chef nor Arazim have commented on its future. |