U.K. Restaurant Chain Cote Could Be Sold to Creditors

(Bloomberg) --

Cote, a chain of French-style brasseries and bistros with locations across the U.K., could change hands through a debt-for-equity swap, according the Telegraph.

BC Partners, which bought the casual dining group in 2015, is in talks to offload Cote to its debtholders, the newspaper reported, without saying where it got the information.

The restaurants had been performing well with record sales in the last financial year, but the chain suffered during the pandemic, a Cote spokesman told the Telegraph. “As a result, we are exploring different options,” the spokesman said.

Cote is mulling closing some restaurants permanently, the Telegraph reported. The article also cited an industry source saying that most of the Cote sites would remain viable.

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