review of Las Iguanas in 2018.<\/a>\n<\/p>\n\n ![]()
A note in the window Las Iguanas in Swinegate, York, announcing its closure (Image: Newsquest)\n<\/p>\n
\n The closure of the York branch comes after a plan to save the company which runs dozens of other Las Iguanas restaurants from entering administration was approved by a High Court judge.\n<\/p>\n
\n Iguanas Holdings Limited runs 44 Las Iguanas restaurants across the UK, but its lawyers told a hearing in June that the company was \u201cheavily loss-making\u201d and would \u201cinevitably enter administration\u201d if the restructure was not approved.\n<\/p>\n
\n Ryan Perkins, for the firm, said it had been able to stay afloat only thanks to financial support from its parent company, The Big Table Group, which also owns chains including Frankie & Benny\u2019s, Bella Italia and Banana Tree.\n<\/p>\n
\n The restructuring plan, which was approved by the majority of the company\u2019s creditors, will wipe out debts of around \u00a337 million owed to one of Iguanas Holdings’ creditors and see Big Table inject \u00a33 million into the company as part of a \u201cturnaround strategy\u201d.\n<\/p>\n
\n It will also lead to reductions of some of its rents being \u201cimposed\u201d on landlords and the \u201ccompromise\u201d of some debts owed to them.\n<\/p>\n
\n Read next:\n<\/p>\n
\n Mr Justice Meade sanctioned the scheme at the end of the hearing in London.\n<\/p>\n
\n Mr Perkins told a previous hearing that the UK casual dining sector had suffered \u201csubstantial problems\u201d in recent years because of high inflation, reduced customer spending and increased taxes.\n<\/p>\n
\n He added that despite Iguanas Holdings and Big Table \u201cimproving the Las Iguanas menu and customer experience\u201d, trading conditions \u201cremain very challenging\u201d and that Iguanas Holdings lost nearly \u00a310 million in the 2025 financial year.\n<\/p>\n
\n The barrister also said that the company would \u201csimply run out of money\u201d if the plan was not approved, with a judge allowing the company to take the scheme to be voted on by creditors last month.<\/p>\n","protected":false},"excerpt":{"rendered":"Latin-American chain Las Iguanas has closed its branch in Swinegate, York, after opening in 2016. A sign in…\n","protected":false},"author":2,"featured_media":768988,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,59,56,54,55],"class_list":["post-768987","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-gb","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/768987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=768987"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/768987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/768988"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=768987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=768987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=768987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}