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Wed 1st Apr 2026 - Exclusive: Las Iguanas to commence strategic restructuring plan to secure long‑term future |
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Exclusive – Las Iguanas to commence strategic restructuring plan to secure long‑term future: Las Iguanas, the Latin American restaurant brand, is to commence a “strategic restructuring plan” to secure the long-term future of the 44-strong business, Propel has learned. The business, which is owned by Iguanas Holdings (a subsidiary of The Big Table Group) has confirmed that it has submitted an application to the Court to launch a restructuring plan. The company said: “Over the past few years, the UK’s wet‑led, casual dining sector has faced well‑documented challenges, including reduced alcohol spend, lower consumer confidence, and younger guests shifting their eating‑out choices. These pressures have been compounded by government policies that have had a severe impact on the hospitality industry. This has been reflected across the market, with several operators reporting significant financial challenges in recent months. Las Iguanas have been working with advisors (Teneo) to explore the full range of strategic options for the brand. This review concluded that a targeted restructuring plan represented the most suitable route to securing the future of the brand. The restructuring plan is a legal process which, if approved, allows for rent reductions across relevant sites for a three-year period.” Propel understands that the restructuring plan relates solely to Iguanas Holdings, the legal entity that carries the Las Iguanas brands property leases and related costs. It does not include The Big Table Group business, nor its suppliers, its employees or any of the group’s other brands, including Bella Italia and Banana Tree. Alan Morgan, chief executive of The Big Table Group, said: “Las Iguanas has been part of the UK’s hospitality landscape for more than 30 years. This plan is about reinforcing the brand’s long-term sustainability in a part of the market that has been, and continues to be, impacted by negative market trends and incredibly poor government decisions. This process does not include any other part of The Big Table Group business. All Las Iguanas restaurants continue to operate as normal, and I thank the teams for their continued hard work and dedication.” The then Casual Dining Group acquired the then 41-strong Las Iguanas in a £85m deal in summer 2015.
Propel launches Unlimited Plus option for Premium subscribers: Propel has launched a new Premium Unlimited Plus option for Propel subscribers. The Unlimited Plus option, which costs £1,995 plus VAT per annum, has some amazing additional benefits to the unlimited option which costs £995 plus VAT. Subscribers get four free tickets to Propel’s paid-for conferences – Excellence in Pub & Bar (19 May), Operational Excellence (9 July) and Talent & Training (15 October) – and the opportunity to run one free sponsored message or situation vacant notice during the year on the newsletter. Existing subscribers can upgrade immediately if they want and the clock starts again on their year. The additional benefits are worth circa £2,500. Propel managing director Paul Charity said: “The Premium subscription is like a loyalty club, and these additional benefits are a response to the requests for a fuller package of benefits. Existing subscribers can upgrade straightaway – and their year's membership re-starts. We have held the price of Premium membership for four years whilst adding benefits. Existing price points and benefits carry on – this is simply a chance to enjoy even more benefits." Email: kai.kirkman@propelinfo.com to sign up for Premium.
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