Mexican fast casual chain Benito’s Hat collapses

Mexican restaurant chain Benito’s Hat has entered into administration after buckling under the pressure of coronavirus.

The company called in creditors this week after being left with “no option” but to cease trading due to the complete closure of the hospitality industry as the country fights the outbreak.

In a statement, financial firm Begbies Traynor confirmed it had been engaged in late January to assist with the sale of Pico’s, trading as Benito’s Hat.

Four of the restaurants – at London’s O2, King’s Cross, Bromley, and St Albans – had already shut indefinitely, but four other locations – Covent Garden, Farringdon, Oxford Circus, and Oxford – were set to relaunch.

It is unclear whether this will still happen, but the former managing director Michael Pearson is believed to be lining up a new opening as part of a new company.

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