Gaucho who own CAU restaurants have announced today that all sites including Henley will immediately close after going into administration.
Accountancy firm Deloitte has been appointed as administrator. It said all 22 branches of CAU would close to allow the group to focus on selling the Gaucho chain. Deloitte described CAU as “significantly loss-making” after reporting three consecutive years of falling sales.
Joint administrator Matt Smith said: “Unfortunately the CAU brand has struggled in the oversupplied casual dining sector with rapid over expansion, poor site selection, onerous lease arrangements and a fundamentally poor guest proposition all being factors in its under performance. The Gaucho business on the other hand, which operates in the premium dining market, continues to trade well in its market segment, is profitable and has a strong underlying brand and guest loyalty. We are taking steps to stabilise the business following our appointment and are now seeking expressions of interest in terms of a sale of the Gaucho business.”
CAU Henley opened in January 2015 after taking over the site from La Bodega. Only last month we visited the restaurant to try out the new summer menu in the new garden terrace which had recently been completed.