A GLASGOW-based Italian restaurant chain has said a ‘clerical error’ was responsible for creditors moving to place the firm into liquidation.
A liquidation petition for Tony Macaroni was presented to Glasgow Sheriff Court more than six weeks ago by unidentified creditors of the company, which has 12 restaurants, including three in Glasgow and 300 full-time staff.
Details of the petition came in a small public notice published on Wednesday and immediately raised worries about the future of the business.
The petition asked that the company be wound up by Glasgow Sheriff Court and to appoint a liquidator.
But the 11-year-old restaurant chain, which sponsors Livingston FC, said it was down to a “clerical error” and the situation has now been resolved.
Lawyers acting for the creditors confirmed the dispute has now been resolved “and the petition will be shortly withdrawn”.
It comes at a time when director Giulia Marini in its latest financial statements passed the company off as a “going concern” on the basis that it was able to find sources of funding over the next year to help with cash flow.
Despite sales increasing by 10 per cent to £14 million in the year to January, 2017, it’s pre-tax profits slumped to £70,936.
Chris Bryce, area manager for Tony Macaroni said: “This issue arose due to a clerical error and once highlighted was resolved immediately and unfortunately the notice could not be cancelled in time.
“We are looking forward to opening our new branch in Aberdeen next week.
“I have no further comment as the matter has been resolved.”
Ms Marini had warned in October that there was an overprovision of eateries in city centre locations “which we believe will ultimately lead to a ‘blood letting’ and realignment in a much less congested marketplace.”
Guiseppe ‘Sep’ Marini, managing director of Tony Macaroni and the Marini brand of fish and chip shops is also the joint owner of ice cream chain Nardini’s with business partner David Equi.
Nardini’s – which was founded in 1890 in Largs by Pietro and Rosa Nardini – collapsed into receivership in 2003. The business was later rescued by Equi in a deal believed to have been worth £1m.
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