Alex and Saiphin Moore, founders of the Rosa’s Thai Cafe restaurant group, have saved the Ceviche restaurant group from administration in a management led buy-out deal.
The deal sees the Moores acquire the Ceviche Group under Atomex, the turnaround company set up by Alex following the majority sale of Rosa’s Thai Cafe to TriSpan last year.
The Ceviche Group, founded by Martin Morales, currently includes the original Ceviche site on Frith Street in Soho, Andina in Shoreditch and Casita Andina on Great Windmill Street, also Soho. Ceviche Old Street, Ceviche Notting Hill and Andina bakery closed last month.
Staff from all of the now closed sites were offered alternative roles within the business as part of the buy-out terms and 88 jobs were secured.
Founder Morales is no longer employed by the company, but will observe a brand ambassador role to the business moving forward. Raquel De Oliveira, who has worked with Morales since 2011, remains as Ceviche Group MD and becomes a shareholder in the business. Group head chef Daniel Ribeiro and group operations manager Alessio Bascherini also remain with the business.