South West cafe chain Friska falls into administration
Bristol-based café chain Friska has collapsed into administration – after struggling with the impact of the COVID-19 pandemic.
Mark Boughey and Tim Ball from national advisory firm Mazars were appointed joint administrators of the business on 5 July – and the company has been sold to a third party.
Five of the current eight sites across Bristol – as well as the 35 staff will transfer over as part of the deal.
Two of the remaining Bristol stores have been sold to the current management – Founders Griff Holland and Ed Brown – which will now operate under a different brand, which will be announced in due course.
Boughey commented: “The joint administrators are pleased to announce that a sale of the business and assets has now been completed. Whilst the hospitality and retail sector continues to experience challenges, due to Covid, we hope that the government’s recent announcement and the lifting of restrictions on July 19 will enable the business to re-open and thrive under new ownership, safeguard the jobs of employees and retain tenants for local landlords. We also wish the Friska co-founders Griff and Ed well with their new venture and every success for the future.”