In October 2016 hamburger chain Ed’s Easy Diner went through a pre-pack administration deal (Box 1). This put the original business into liquidation but allowed trading to carry on. The deal saved 33 restaurants and 700 jobs, but required the closure of 26 diners and nearly 400 redundancies.
Yet in June 2015 Ed’s Easy Diner had been highlighted by Real Business as one of Britain’s top 100 fastest growing companies. It also received acclaim as one of the Sunday Times fastest growing companies in 2014 and 2015. Real Business mentioned a 3-year growth rate averaging 62% and a latest profit figure of £1.3 million. The growth was set to continue.
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