Slaughter and May advised The Restaurant Group Plc in relation to a CVA in respect of the group’s Leisure estate

Slaughter and May, in conjunction with AlixPartners, advised The Restaurant Group Plc, a leading company in the UK’s casual dining market, in respect of a company voluntary arrangement (“CVA”) proposed by one of its operating subsidiaries, The Restaurant Group (UK) Limited. The CVA, which was successfully approved by creditors on 29 June 2020, allowed it to reduce the size and rental cost base of the Group’s Leisure division, which principally comprises the Frankie and Benny's estate. The challenge period for the CVA has now ended, and the CVA is therefore fully binding.