Travers Smith, Ashurst and Addleshaw Goddard are advising on the restructuring of restaurant chain Carluccio's, which is pushing forward with a company voluntary arrangement (CVA) which could see the closure of about 30 branches.

The Italian food chain announced its intention to enter a CVA last month, and shareholders approved the plan yesterday (31 May).

Carluccio's, which operates 103 restaurants across the UK, could now close about 30 branches unless new rent deals are agreed with landlords.

Travers is advising Carluccio's on the negotiations, with a team led by London restructuring partner Edward Smith.

The restaurant's owner, Landmark Group, has instructed Ashurst, with London corporate partner Bruce Hanton leading the firm's team. The retail and hospitality conglomerate, which is based in Dubai, has agreed to inject £10m into the business.

Addleshaws, meanwhile, is understood to be advising Barclays, which is a lender to the company, with a team including business support and restructuring managing associate Emma Sadler.

High-street CVAs have been commonplace in recent months, with Herbert Smith Freehills, Jones Day and Pinsent Masons taking roles as restaurant chain Byron Burger agreed a CVA in February.

The following month, Paul Hastings and Sidley Austin took lead roles as clothing store New Look finalised a restructuring deal in an effort to reduce rental costs and revise lease terms across 393 stores.

Other firms to have picked up roles on recent restructurings include Eversheds Sutherland for electronics retailer Maplin and Kirkland & Ellis for Toys R Us.

Photo: Flickr, Elliott Brown