The Iberica tapas restaurant in Glasgow is set to close permanently, according to industry reports.
Iberica, situated on the corner of St Vincent Street and Hope Street in Glasgow is to close its doors with the loss of scores of jobs as part of a company-wide restructuring, according to The Caterer.
The popular 113-cover Spanish tapas restaurant and bar occupied the former Royal Bank site in the heart of Glasgow’s downtown restaurant land since 2016 and its loss will be a body blow to the hospitality industry.
The closure of the chain’s only Scottish outlet and one other restaurant in Manchester, will see the loss of a total of 135 jobs. Six other branches, mostly in London, survive the shake-up.
Marcos Fernandez Pardo, chief executive at Ibérica, said: "We're pleased to have reached an agreement that's in the interest of all parties. We're thankful to all of our landlords, Santander and our creditors who entered this process with an open mind and in good faith.
"Our combined efforts to allow flexibility to sustain this period of uncertainty, protecting the interests of all stakeholders, have secured an arrangement that we believe secures the future of this organisation, and its continued success."
Over 99% of creditors, including the chain's landlords, voted to approve the plan in late September.
Iberica was highly rated by the Scotsman as recently as February last year for its ‘sublime’ tapas offerings.
Ibérica was launched by Nacho Manzano, the chef behind Michelin-starred Spanish restaurants Casa Marcial and La Salgar, and Marcos Fernandez Pardo in London in 2008.
This article first appeared on The Scotsman.