Gaucho is the latest in a string of high street restaurant and retail chains to run come into trading difficulty. Prezzo, Byron and Jamie’s Italian have also faced difficult decisions to reduce or rationale their operations.
Rising business rates and minimum wage costs as well as a slowdown in consumer spending has put pressure on the hospitality and retail sectors.
In the case of Gaucho, a £1m tax bill put the business into crisis and an administrator has been appointed.
There may have been underlying trading issues and the financial position is not clear. However, if your business faces an immediate cash injection to ride out difficult times, have you considered a short-term business loan?
Through an extensive panel of lenders we can source competitive, flexible business loans to help you address emergency cashflow situations, such as tax bills, seasonal lows or creditor requests.
Contact us to discuss how we can help. Our team are on hand 7 days a week, so we are here to support you whenever you need us.
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This article has been produced by The Funding Store for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of the information contained in this article is accepted by The Funding Store (MK) Limited. In all cases appropriate professional advice should be sought before making a decision.