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U.K. Casual Dining Takes Another Blow as Gaucho Collapses

  • Chain of Argentine steakhouses falters under high costs, debts
  • Brexit effects, customer tastes batter British restaurants
Gaucho restaurant

Gaucho restaurant

Photographer: Hannah Songer/Bloomberg

Updated on

The U.K.’s restaurant crisis shows no signs of letting up, with an operator of Argentine steakhouses this week becoming the latest to collapse.

London-based Gaucho Group Ltd. on Thursday cited high debt levels and poor performance at its 22 Cau burger outlets as it entered administration, the British version of bankruptcy protection. All of the Cau locations will close, costing 540 people their jobs, administrator Deloitte said in a statement.