Another historic company in distress. Restaurant chain Courtepaille has filed a bankruptcy petition with the Nanterre Commercial Court, announced on Monday by its owner, the Napaqaro group, which said in early February it wanted to sell the brand.
Faced with “serious economic and financial difficulties, initially caused by the Covid crisis, which subsequently worsened”Courtepal a “It was decided to apply for protection to the Commercial Court of Nanterre”specified in the press release.
Over 200 restaurants
Courtepaille has 144 direct operated restaurants and 76 franchised restaurants, employing a total of 2,089 people. During the observation period to be announced, management, with the assistance of “two judicial administrators appointed by the court will make every effort to find solutions for the restoration of Kurtepai”clarifies the press release.
“This decision was inevitable given Kurtepai’s financial situation.” of which “The economic model, already weakened, no longer works due to the current inflation, which leads to higher prices for raw materials and a drop in restaurant attendance”. The family brand failed to recover its 2019 traffic levels before the health crisis: it still fell 25% last year with a turnover of 190 million euros.
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The courtepal has also been hit by a surge in inflation, which is driving up the cost of supplies and forcing families on a tight budget to make choices about their consumption. Napaqaro, which acquired Courtepaille from UK-based ICG just over two years ago, also owns Buffalo Grill and franchises American fast food chain Popeyes Louisiana Kitchen.
The history of the Courtepaille network began in 1961 with the opening of a restaurant on the outskirts of the National 6 in Rouvre (Côte d’Or), followed by a second, a few kilometers further, in Cussy-le-Forge (Yonne). ). The sign stands out from the start with its thatched roof, chimney and menu centered around meat. The success is immediate, and restaurant openings follow one after the other along the main streets. Courtepaille, long owned by the Accor group, then came under the control of several investment funds.
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