The administrators of a fried chicken restaurant chain, who saved the business and most of its employees’ jobs via a sale, have instructed CAPA to audit the company’s sites.
CAPA will be undertaking full property audits at sites occupied by Dirtybird Restaurants, which traded as Bird Restaurants from prime London locations such as Camden, Canary Wharf, Shoreditch and Westfield.
Restructuring, recovery and insolvency firm BM Advisory appointed CAPA after being drafted in to find a way forward for the chain. Dirtybird Restaurants had been suffering a series of financial pressures, exacerbated by difficult trading conditions across the casual dining industry and an unsuccessful refinancing process.
In a public statement BM Advisory said the funding market for small and medium-sized businesses in this sector has narrowed, and the knock-on effects of this led to Dirtybird’s insolvency.
But after their appointment as administrators, on June 12 2019, Andrew Pear and Michael Solomons of BM Advisory sold the business and assets of Dirtybird to Inspirational Bar & Restaurants Management via a pre-pack administration. The deal protected the majority of jobs at the company.
Following BM Advisory’s instruction, CAPA’s Audit team will now conduct full audits across the restaurants. The team will use bespoke software to carry out a forensic analysis of service charges, rates, utility bills, invoices and all other property-related costs.
The team will look to uncover any overspend or error, before recovering overpaid sums for the creditors of Dirtybird.