Sandwich chain Eat has avoided making the decision to draft in advisors as recent closures and an increase in sales have put the company back on track, Retail Sector understands.
In February, the chain was reported to have appointed advisors KPMG to help it with its restructuring plan which included the closure of some of its 110 outlets, and sources close to the chain’s deliberations told Retail Sector the decision to close 10 of its outlets has averted a company voluntary agreement (CVA).
Its recent sales boost has also been attributed to the appointment of its new director of food and beverage, ex-Masterchef finalist Arnaud Kaziewich, whose relaunched healthier categories of baguettes and salads have delivered 21% and 18% volume growth respectively contributing to like-for-like (LFL) growth across the business.
Its new format outlets which provide grab and go hot food options and reduced queue times have also been said to add to the firm’s growth. Eat also opened an outlet in January at Madrid airport.