Veeno Bars, an Italian restaurant and bar chain, has appointed administrators in a bid to stay afloat as the company says rising costs and market pressures is the reason for the move
An Italian bar and restaurant chain has plunged into administration after being battered by soaring costs.
Since launching back in 2013, Veeno Bars built a reputation serving up authentic Italian food and drinks across major UK cities. But now, in a dramatic twist, the company has appointed administrators in a desperate bid to stay afloat.
Bosses called in help on April 8 to stop the business going under completely. Founder Nino Caruso told The Sun: “Like many businesses in the UK casual dining sector, we have faced a combination of well-documented market pressures in recent years, including rising operating costs and challenges within the property landscape.
“This process allows us to address those factors, realign the business, and ensure a more sustainable foundation for the future.”
The company was set up 13 years ago by Italian entrepreneurs Nino Caruso and Andrea Zecchino, bringing a taste of Sicily to the UK high street.
Famous for its wines produced at the founders’ own family vineyard in Sicily, Veeno carved out a niche with its unique selection for customers. Over the years, the chain expanded to cities including Bristol, Durham, Edinburgh, Leeds and Leicester – even opening a site in Wroclaw, Poland.
But trouble has been brewing. The company has already shut two locations, with its Manchester branch closing in August 2022 and its Chester site going under in February this year.
Now, with administrators stepping in, the future hangs in the balance. Administrators are brought in to protect struggling firms from collapse and try to restructure them to survive – but there are no guarantees.
A notice in the London Gazette confirmed that David Kemp and Richard Hunt of Exigen Group Limited have been appointed as joint administrators for Vintage Corporation Ltd, Veeno’s legal operating company.
All five remaining Veeno Bars are now at risk of closure if the business can’t turn things around.
The chain previously fell into administration in 2019, only to be rescued when Rodrigue Trouillet stepped in to buy it out.