Seeing a high street restaurant chain through difficult times
Specialist advice to the hospitality sector
Our client is a family-owned and managed high street restaurant chain with ten outlets across London.
The challenge
The restaurant chain was being looked after by a small firm of accountants, which they outgrew. They then moved to a Big 4 firm and found they weren’t getting the advice and personal attention that they needed.
An existing client recommended Blick Rothenberg to the restaurant chain and we were engaged as accountants and business advisors.
How did Blick Rothenberg help?
Within the first few months of the engagement, the restaurant chain was involved in making a serious fire claim. Blick Rothenberg was able to make an instant impact with the restaurant by accurately advising on the details of the claim, which meant the business knew what to expect when the claim arose.
In addition to filing regular annual accounts for the business, Blick Rothenberg has also assisted in business structuring and provided commercial advice, drawing on our deep knowledge of the hospitality sector. During a period of difficulty for the chain, Blick Rothenberg was able to provide advice on internal management and suggested some restructuring, looking specifically at senior management roles and negotiating trade and employment contacts. Blick Rothenberg also encouraged a strategic focus when expanding the business, ensuring that the chain did not adopt a ‘one size fits all’ approach to opening new outlets. From looking at the location of each restaurant, adjustments needed to be made to, for example, the menu, speed of service and decor.
The outcome
With Blick Rothenberg’s advice, the chain came through the difficult period and turned a £1m loss into £200,000 profit. We continue to work closely with the business owners today.