Italian Restaurant chain Vapiano saved by new leisure group

North East leisure company Cairn Group, is part of a new group formed to save a chain of restaurants and secure the future of over 200 jobs.

A joint venture of investors and a newly formed enterprise called Savour Group has taken on the UK Vapiano business and is committed to open more restaurants across the UK.

Savour Group is made up of representatives from a trio of investing families:

Naveen Handa who is a Director at long-standing Mincoffs client, the Newcastle-based Cairn Group, which owns and operates more than 30 hotels including The Royal Station Hotel in Newcastle;

London- based Dominvs Group, which has firms focused on the hospitality, residential and commercial real estate sector;

Krit Srichawla, CEO of Fico Group, a leading company in the food and hospitality sector.

Together, the joint venture has acquired the Vapiano restaurants on Great Portland Street, Bankside and Tower Bridge in London.  The Savour Group will also enter a franchise agreement with Vapiano to operate restaurants in Manchester and Edinburgh.

Naveen Handa was advised on the legal aspects of the deal by the corporate team at Mincoffs Solicitors, led by Partner John Nicholson.