Busaba Eathai rescued via pre-pack administration: Busaba Eathai, the Thai business founded by Alan Yau, has been acquired out of administration via a pre-pack sale to a new unrelated company called Seaco Investments. Propel revealed earlier this week that Neil Bennett and Alex Cadwallader. of Leonard Curtis, were appointed joint administrators of Busaba Eathai on 16 July 2025. Busaba trades from six sites in the capital and one in the Lakeside shopping scheme in Essex, and recently celebrated its 25th anniversary. The new deal has saved around 240 jobs. The administrators said following an “extremely challenging trading period”, the business was at risk of closure if a sale via administration could not be secured. Bennett said: “Busaba has experienced tough trading conditions over the past few years, in line with the hospitality industry in general, including the negative consequences of the cost-of-living crisis, inflation and a substantial increase in utilities costs. The pre-pack sale has allowed us to transfer the business smoothly and has saved a long-standing London Thai restaurant along with hundreds of jobs.” Propel revealed last month the future of Busaba, which had been backed by TNUI Capital, had been thrown into doubt after the business filed a notice of intention to appoint an administrator. It came after the company closed two of its sites in London, in Bloomsbury and Kingston, earlier this year. The business went through a restructure in 2020 where it looked to exit sites in Oxford Circus, Reading, Manchester and St Albans. Busaba returned to the expansion trail in 2021 with openings in Cardiff and Oxford and launched the Lakeside site in 2023. Two years ago, Busaba took the decision to close its “underperforming” Cardiff and Oxford sites to “improve profitability and cash flow to offset significant cost inflation in the business”. The Cardiff restaurant opened in October 2021 and the Oxford site in January 2022. The Cardiff lease was surrendered to the landlord while the Oxford restaurant lease was assigned to Rosa’s Thai. Last April, Busaba said it was “well placed to meet the challenges ahead” while its Lakeside site was profitable and sales were “exceeding expectations”. The company reported turnover fell to £21,073,957 for the year ending 17 September 2023 compared with £21,162,725 the previous year. Ebitda was minus £636,000 compared with a profit of £172,000 the previous year. Pre-tax losses narrowed to £1,813,221 from £3,093,377 the year before. Busaba features in the Propel Turnover & Profits Blue Book, which is available exclusively to Premium subscribers and features 1,138 companies. Busaba’s turnover of £21,073,957 is the 518th highest in the database. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.

Wagamama makes debut in India: Wagamama, The Restaurant Group (TRG)-owned, pan-Asian restaurant brand, has made its debut in India, opening its first location in south Mumbai. Housed within the restored Cambata Building, home to the Eros cinema in Churchgate, Wagamama said the new opening marks a “bold step for the brand as it brings its signature energy, nourishing cuisine, and communal spirit to a dynamic new market”. Wagamama’s Indian opening is led by K Hospitality, one of the country’s leading food and beverage operators. The company said next on the expansion map is Delhi NCR, “with more cities to follow in due course”. Wagamama currently operates circa 60 sites outside the UK and the US, and is now present in circa 20 countries worldwide. “We don’t just serve food, we serve energy,” Francisco Neves, senior vice-president of franchise and partnerships at Wagamama, said. “Wagamama is a kitchen for the soul. Playful, purposeful, and powered by good food that uplifts. India has a rich appreciation for flavour, freshness, and culture, and Mumbai was the ideal city to begin this journey.” The company said: “The new Mumbai site blends Wagamama’s global identity with the character of its surroundings. While the opening menu remains faithful to Wagamama’s global core, the brand’s commitment to kaizen means continued evolution is guaranteed. Expect future editions to include locally inspired innovations and seasonal offerings tailored to the Indian palate.” Neves said: “We’re thrilled to be partnering with K Hospitality to bring Wagamama to India.”

St Austell hires new CFO: St Austell Brewery has hired Don Davis as its new chief financial officer, starting next month. Davis will bring with him more than 30 years of retail experience, most recently at women’s clothing brand Hush, where he performed the same role and contributed to the significant expansion of the business. Prior to that, he held a number of senior finance roles, including finance director at Homebase and global online retailer ASOS. Davis replaces Colin Stratton, who will be stepping down at the end of this year after 29 years with St Austell. Stratton will retain his current responsibilities as company secretary on a part-time basis until he fully retires at the end of 2027. Kevin Georgel, St Austell’s chief executive, said: “After an extensive search for our new chief financial officer, we’re delighted to welcome Don to the business. His significant financial and operational experience, gained in a number of high-profile retail brands and growth-focused companies, will add significant value. As a business, we continue to make good progress against our strategic plans, and we remain firmly on a growth trajectory. I am confident Don’s wealth of experience and strong cultural fit will ensure that he will make a significant contribution in the ongoing development and growth of the company.” He added: “Colin has been a mainstay at the business for almost three decades, and we would like to thank him for his significant contribution over his many years of dedicated service. We are grateful that we will be retaining his extensive knowledge of the business for a further two years.”