Following the news this week that Chardon d’Or had announced its closure at the weekend, the company have now appointed joint administrators Alistair McAlinden and Blair Nimmo from Interpth Advisory.
Brian Maule at Chardon d’Or announced the closure of the Glasgow institution after 22 years on social media on Saturday night saying that the restaurant was closing with immediate effect and would not be re-opening.
A statement from Brian, Susan and Cal said, “It is with much sadness that we announce that tonight was our last night of Brian Maule at Chardon d’Or.
“We have tried so hard to fight against the financial burden of the ‘new normal’ world we live in, but it has forced our hand – for now – with immediate effect.
“Surviving through Covid, then spiralling into a cost-of-living crisis, increased home working, plunging property values, lack of support for the Hospitality sector. All these damaging factors, plus many more have weighed heavily on us, we have tried so hard to see it through – for our fantastic team, whom we feel so sorry, but also for the City that we have been part of for the last 22 years, our business simply can no longer be sustained under all these pressures.
“We leave behind something that has been very special, and are so thankful to all our customers, many whom we now consider friends. Your support will never be forgotten – we could never have done it without you, we are grateful for everything and once the devastation has subsided, we will take great comfort from the friendships created along the way and cherish the memories.”
A message from the board said, “The considerable pressures on the hospitality industry just now and projects are well understood. Chardon d”or has its full share of these with soaring food and energy costs, no more rates relief, a customer base in a cost-of-living crisis and a big medium term turnover uncertainty, Location though, is critical.
“At the outset, in 2001, and for the next 20 years, Chardon lay in a busy, thriving business district.
“Covid has changed that. Many of the surrounding businesses are now closed or up for sale or let and those still open are mainly occupied on a part-time basis. This had the two-fold impact of a substantial reduction in restaurant business and a depression in property values.
“Desperately, sadly. With all this coming together, the inescapable conclusion for Brian Maule and the team is that the Chardon business in West Regent Street will have to close. It’s a sad loss for the city.
“As you would guess, Brian is completely devastated by this. He feels so much gratitude towards his supporters and his dedicated staff and he feels he has let them down. Assurances that he has done nothing of the kind and that what has occurred has been almost completely out of his control, will take time to sink in.
“In time, the hope is that Brian, Susan and their loyal team will be able to reflect on these 22 great years for Chardon d’or; an amazing span in which Brian won 8 fine dining awards and delivered a 10-year programme of hands on training to children from Glasgow schools.
“Brian has built a reputation and the provision of the highest quality in private dining and recurring events. He has a loyal and significant following. Just how and where the value of this might now be captured, time will tell. It is all too raw for these considerations yet. His is a talent though that should not be lost.”
Following their appointment on 27 July, Blair Nimmo from Interpth Advisory said, “These are tough times for the hospitality industry, which was first left reeling by the impact of lockdown measures during the pandemic, and which has since had to contend with hyperinflation and the impact of the cost-of-living crisis on its customer base.”
Alistair McAlinden added, “Brian has worked tirelessly to ensure that Chardon d’Or’s market-leading reputation was maintained, even in the face of the most challenging trading and financial conditions in its 22 year history. Our immediate priority will be to provide assistance to employees, including providing them with the information necessary to make claims for redundancy pay from the Redundancy Payments Office.
“We will also seek to realise the company’s assets for the benefit of its creditors, which will include bringing the property at West Regent Street to market in due course.
“Given the unique opportunity to acquire a hospitality premises of this quality, we would strongly encourage interested parties to make early contact with the joint administrators.”