Overview
- On Friday a High Court judge, Mr Justice Meade, sanctioned a court‑approved restructuring plan that prevents Iguanas Holdings from entering administration and keeps the 44‑site Las Iguanas chain operating for now.
- The plan cancels about £37 million of debt owed to a major creditor and requires parent company The Big Table Group to inject £3 million as short‑term turnaround funding.
- A majority of creditors backed the proposal in a prior vote, and although some voted against it, none challenged the sanction at the final hearing.
- Under the scheme landlords will face imposed rent reductions and agreed compromises on some outstanding debts, shifting part of the rescue costs onto property owners and other creditors.
- Iguanas Holdings reported nearly £10 million of losses in the 2025 financial year, the business remains loss‑making, and the rescue mirrors wider restructuring activity in a UK casual‑dining sector that has seen restaurant insolvencies rise sharply.