A catering company run by a celebrity restaurateur has insisted it has the cash to pay suppliers before it pulls out of a city’s iconic venues.
Last month Peyton & Byrne announced it will stop delivering catering and hospitality for Brighton Dome, the Royal Pavilion and Hove Museum.
Brighton and Hove Council said the bars and cafes will return to in-house management, while joint tenders are sought for a new firm to run the catering and the cafe operations.
The GMB union is in negotiations with the council and the caterer over the future of its members employed at the venues.
According to the latest figures filed at Companies House, Peyton & Byrne has a negative balance sheet of £891,056 . It has a net debt of £1,192,751 and has issued a debenture with Barclays bank.
In the previous year it borrowed £300,000 from Olga Polizzi, the mother-in-law of BBC Great British Menu judge Oliver Peyton. The loan has since been repaid.
A spokeswoman for Peyton & Byrne said:“The company is well funded and has had recent further investment from British Growth Fund to ensure its strategic aims are met. This included a £6.25 million investment deal signed in November 2012.
“Brighton Dome and Brighton Festival and Royal Pavilion and Museums will be working with Peyton & Byrne to best protect staff and the facilities during the transfers of the bars and the tendering process. All suppliers will be paid by Peyton & Byrne, who are currently continuing to run the site as per normal.”