The Gaucho Group management team has confirmed that for the company’s 16 Gaucho restaurants, it’s ‘very much business as usual’. Oliver Meakin, CEO of Gaucho Group said today: “There has been some confusion, even within the hospitality industry, of the exact status of the Group, and we would like to set the record straight. All 16 of our UK Gaucho restaurants are open, each location is profitable and completely sustainable, and our wonderful staff are fully committed to providing our guests with a genuinely memorable experience through delivering a taste of Argentina’s best beef and wine.
“We are continuing to trade through the administration period, supporting our administrators Deloitte LLP, and are confident of an exciting sale of the Gaucho restaurants within the next two to three weeks.”
Over the next few weeks, Gaucho will be undertaking a strategic communications campaign, led by long-standing Gaucho Marketing Director Matt Ford, to ensure the ‘business as usual’ message reaches the 16,000 guests who visit Gaucho each week, as well as encouraging new guests to try the UK’s premier steak offering. “The Gaucho brand is 25 years old next year; this is a great business, making good money, with a very strong heritage, in highly distinctive locations – we have a lot to be proud of,” says Ford.
Meakin has confirmed that there has been no disruption to Gaucho due to the administration, with key suppliers recognising the strength of the business, and wanting to continue to support it.
There are several high quality potential buyers for Gaucho restaurants, who recognise the potential to build upon the strong Gaucho brand. Meakin and his team believe that there are significant expansion opportunities for the Group: “We are talking to potential buyers about future UK expansion, as we believe there are a least a further six locations where Gaucho would trade successfully,” says Meakin. “We also believe that Gaucho could trade successfully in Western Europe with openings under our management. In addition, prior to the sale process, we were discussing a number of franchise opportunities in the Middle East with a local business partner.
“Gaucho is the first choice for so many diners for special occasions, celebrations, and business dining, and our recent guest research confirms that the overall experience we offer blows the competition out of the water. We offer a fantastic dining environment, industry-leading service, and exceptional food. We have incredibly loyal guests who simply love our unique proposition which provides guests with memorable Argentine beef and wine. We’re looking forward to continuing the Gaucho success story for the next 25 years.”