Gino D’Acampo Restaurant Group Acquired in £5m Rescue Deal, Safeguarding 400 Jobs

In a welcome boost for the UK hospitality sector, the company behind the Gino D’Acampo restaurant brand has been sold out of administration in a £5 million pre-pack deal, securing the jobs of all 400 employees.

The business, operating under the name Upmarket Leisure Ltd, manages five Gino D’Acampo-branded restaurants located in key UK cities—Manchester, Liverpool, London, Newcastle, and Leeds.

Despite recent financial pressures, including a winding-up petition reportedly issued by HMRC earlier this year, the brand will continue trading under its existing name. The company’s most recent financial statements, dated to March 2023, showed debts of nearly £5.8 million to various creditors.

The rescue deal was facilitated by insolvency specialists Begbies Traynor, who confirmed the sale but have yet to disclose the identity of the buyer. The business had a reported annual turnover of approximately £20 million.

Dean Watson, a partner at Begbies Traynor, commented on the transaction: “The leisure and hospitality sector continues to weather considerable economic pressures, from soaring food and staffing costs to evolving consumer habits. In this case, restructuring was the only viable option to protect jobs and preserve the brand’s future.”

“We’re pleased to have concluded a sale that safeguards all roles within the business and allows these well-known venues to continue trading. The brand remains strong and now has an opportunity to rebuild and grow.”

Celebrity chef Gino D’Acampo is no longer involved in the day-to-day running of the business, having stepped down as a director in 2021. The company, previously named Gino D’Acampo Hotels and Leisure, was rebranded as Upmarket Leisure Ltd in 2023.

Salaries and employee benefits were processed as normal last week, with no disruption reported to ongoing operations.