Key facts
- Upmarket Hotels & Leisure, the company behind Gino D’Acampo’s restaurants, faces a winding-up petition from HMRC.
- The petition was filed to the High Court, indicating the company may be unable to pay its debts.
- This action follows a previous rescue of the business from collapse last year.
- The restaurant group operates five establishments across England, including Luciano by Gino D’Acampo in London.
The company operating TV chef Gino D’Acampo’s restaurant empire, Upmarket Hotels & Leisure, is facing a winding-up petition from the UK tax authority, HMRC. The petition, filed to the High Court, signifies that the company may be unable to meet its financial obligations.
This development poses a threat to the chain's high street presence, especially as the business was rescued from collapse just over a year ago. Upmarket Hotels & Leisure runs four Gino D’Acampo restaurants in Manchester, Liverpool, Newcastle, and Leeds, along with Luciano by Gino D’Acampo in London.
The company previously fell into administration and was subsequently rescued by an unnamed buyer in a £5m deal that preserved its 400 jobs. According to administrators Begbies Traynor, the former JD Sports chairman Peter Cowgill, who still holds a majority stake, was owed over £2.6m when the company collapsed. A related entity, Upmarket Leisure, also experienced widening losses and significant total debts.
HMRC stated that winding-up petitions are a last resort, employed to protect taxpayer money after all other avenues for debt recovery have been exhausted.