Iberica, Leeds: Tapas restaurant headed by Michelin-starred chef confirms closure after entering administration
An upmarket tapas restaurant chain has announced the closure of its Leeds site after entering administration.
Iberica, which is headed by Michelin-starred chef Nacho Manzano, entered administration earlier this month and today (Monday) it has been confirmed that the site on East Parade in Leeds will close.
RSM, a professional services firm, was appointed as administrators and confirmed the immediate closure of three sites this morning.
Founded in 2007, the contemporary tapas restaurant group operated from four sites in London - Victoria, Farringdon, Canary Wharf and Marylebone – and its one site in Leeds.
The Leeds site was highly thought of for its traditional Spanish dishes and the “beautiful, expansive setting”.
RSM was able to sell the Farringdon operation to Spanish restaurant and bar group Camino, who have also taken an option on the Victoria site, which has closed in the short term.
This has preserved the part of the business and saw approximately 40 staff members transfer to Camino, but unfortunately, the three remaining sites have been closed. RSM has confirmed that there “will be circa 23 redundancies” in Leeds.
Gordon Thomson, RSM UK Restructuring Advisory Partner and Joint Administrator, said: “Following a challenging trading environment post-pandemic, hospitality, particularly casual dining, has been hit with staff shortages, increased costs and lower spending per cover, which all contributed to Iberica entering administration.
“We worked with the Iberica management to find a solution for the Farringdon site and the associated staff; and we are working with the remaining staff to seek redundancy support.”
It is the latest hospitality business in Leeds to announce its closure as the industry continues to face challenging times. Independent eatery Kino and Crafthouse and Angelica - both of which are situated at Trinity Leeds - announced their closure last week.