Restaurant chain troubled

WHAT started as a small franchise operation in Poland eventually grew to be one of the largest restaurant chains in Europe, but AmRest with headquarters in Madrid looks as if its losses of €162 million could put it into bankruptcy according to its auditors.

Best known in Spain for its La Tagliatella pasta chain it has been badly affected by the lockdown and in Spain alone it put more than 3,000 workers into ERTE.

Current liabilities exceed assets by €770.8 million according to Expansion.

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing, by calling +34 951 38 61 61 or by messaging our Facebook page