Chapelfield restaurant closure confirmed
PUBLISHED: 09:03 22 March 2019 | UPDATED: 14:02 22 March 2019
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It has been confirmed that Norwich's Giraffe restaurant will close.
The site in Chapelfield court will be one of 27 to close, after confirmation from creditors to shut the sites was approved overnight.
As a result of the closures, around 340 jobs will be lost, including those in Norwich.
The 27 outlets are all owned by the Boparan Restaurant Group (BRG), and are a mix of Giraffe restaurants and Ed’s Easy Diners - which BRG also owns. Ed’s East Diner is also in the food court of intu Chapelfield, though its fate has not been confirmed.
The closures will be brought about by a company voluntary agrrangement (CVA).
A CVA is a restructuring process which allows a company to get rid of loss making stores and reduce rents to enable it to carry on trading.
Will Wright, restructuring partner at KPMG and joint supervisor of the CVA, said: “This is a critical step forward for the business, allowing Giraffe Concepts to complete its financial restructuring plan and embark on a comprehensive operational transformation programme.”
The business, which is owned by Boparan Restaurant Group (BRG), first proposed the plans earlier this month.
Tom Crowley, chief executive of BRG said: “We are pleased to announce that the CVA has been approved and we can now begin to execute our plan. We thank our creditors who have supported the business through this process.”