Le Pain Quotidien has entered administration and closed all but one site with the loss of 250 jobs and the trading company BrunchCo UK confirmed that Kroll has been hired as the administrators.
As a result of the bakery and coffee chain’s insolvency one café in Oxford and eight have now closed, however one site remains at London St Pancras railway station.
The Le Pain Quotidien at St Pancras is run by sister company SPQ Holdings Ltd and it will continue to operate.
Sarah Rayment, global co-head of restructuring at Kroll, said, “Pressures on parts of the hospitality and casual dining sector have been well highlighted.
“Brunchco UK Limited, which is predominantly located in London, has suffered from reduced revenues as a result of decreased footfall in the capital, high rents and increased wage costs.
“As part of the next steps of the insolvency, we will be looking to realise value from the company’s leasehold interests and other assets.”
