The administrators for George's Tradition are confident they will find a buyer for the seven strong fish and chip takeaway, restaurant and pub chain.
Raj Mittal and Arvindar Jit Singh, partners at specialist business advisory firm FRP Advisory Trading (FRP), were appointed as joint administrators to George's Tradition Limited and George's Tradition (Belper) Limited on Monday 25th October 2021.
George's Tradition operates six takeaways and restaurants in Nottingham and Derbyshire including Allestree, Chellaston, Long Eaton and West Bridgford. The business also operates The Thorn Tree Pub in Woodlinkin, a head office in Chellaston and a central food processing plant in Ilkeston.
The joint administrators were also appointed to Georges Tradition (Belper) Limited, which operates the Belper takeaway and restaurant site.
It follows historical debts relating to the launch of a restaurant chain, which was subsequently exited. All stores are open and continue to trade while the administrators market the businesses for sale. All 137 staff have been retained.
Raj Mittal, joint administrator and partner at FRP, said: "George's Tradition is a much-loved chain of fish and chip shops that has been established in communities across the East Midlands. While the company has faced some historical financial challenges, the remaining business is strong and so we are confident that there will be appetite from potential investors to take the brand forward."
The sites in Leek and Loughborough, which use the George's Tradition branding, are owned by separate, independent entities and are not impacted by the administration.