Business & Technology
Las Iguanas could close all UK restaurants amid £37m debt
The major UK restaurant chain operates 44 sites across the UK, but has none in Oxfordshire after Oxford’s Park End Street eatery closed back in June 2017.
Las Iguanas, owned by Iguanas Holdings Ltd, a subsidiary of Big Table Group, has confirmed that it has submitted an application to the Court to launch a restructuring plan of Iguanas Holdings Ltd.
This is amid the company “drowning” in debts of £37,000,000, according to a report in The Sun today (Wednesday, May 6).
A statement from the group said: “Over the past few years, the UK’s wet‑led, casual dining sector has faced well‑documented challenges, including reduced alcohol spend, lower consumer confidence, and younger guests shifting their eating‑out choices.
READ MORE: Four Oxfordshire restaurants at risk of permanent closure with jobs at risk
“These pressures have been compounded by government policies that have had a severe impact on the hospitality industry.
“This has been reflected across the market, with several operators reporting significant financial challenges in recent months.
“Las Iguanas have been working with advisors (Teneo) to explore the full range of strategic options for the brand.
“This review concluded that a targeted restructuring plan represented the most suitable route to securing the future of the brand.
“The restructuring plan is a legal process which, if approved, allows for rent reductions across relevant sites for a three-year period.”
READ MORE: Two major UK restaurant chains set to close with 3,800 jobs lost
It is noted that The Big Table Group is the dining brand behind several other high street names, including Frankie & Benny’s, Bella Italia, and Banana Tree.
Although there are no Las Iguanas in Oxfordshire, several of these other brands can be found in the county.
There is a Frankie & Benny’s and a Banana Tree in Oxford, while Bella Italia can be found in the city as well as in Witney.
With this in mind, this newspaper contacted The Big Table Group to enquire whether these brands are also in danger of closing.
A statement from the firm said: “The restructuring plan relates solely to Iguanas Holdings Ltd, the legal entity that carries the Las Iguanas brand’s property leases and related costs.
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“It does not include The Big Table Group business, nor its suppliers, its employees or any of the group’s other brands.”
Chief executive Alan Morgan echoed this with his recent statement, which said: “Las Iguanas has been part of the UK’s hospitality landscape for more than 30 years.
“This plan is about reinforcing the brand’s long-term sustainability in a part of the market that has been, and continues to be, impacted by negative market trends and incredibly poor government decisions.
“This process does not include any other part of The Big Table Group business.
“All Las Iguanas restaurants continue to operate as normal, and I thank the teams for their continued hard work and dedication.”
Business & Technology
UK consumers use AI widely but trust lags, EY finds
EY research shows 74% of UK consumers have used artificial intelligence in the past six months, even as trust and governance concerns rise.
The findings are based on a survey of 15,000 people across 15 countries, including 1,000 in the UK, and suggest AI is becoming part of everyday consumer and workplace activity. In Britain, respondents reported using AI for customer support, route planning, health-related information, research, content generation and decision support.
Use in everyday services appears to be expanding faster than comfort with more autonomous systems. While nearly three-quarters of UK respondents said they had used AI recently, only 14% said they would be comfortable relying on fully autonomous, agent-led AI.
The gap suggests consumers are more comfortable with AI that assists than with AI that acts independently. People want greater control, accountability and transparency when systems make decisions or take actions on their behalf.
Trust in the institutions handling AI data remains limited. Some 43% of UK respondents said they trust companies to manage AI-related data effectively, while 41% said the same of governments.
Frequent users were not necessarily more reassured by the technology. Scepticism was often highest among educated white-collar workers who use AI regularly, suggesting familiarity with the tools may sharpen concerns rather than reduce them.
Trust gap
Cyber security emerged as one of the clearest pressure points. About 73% of UK respondents said they were concerned about AI systems being hacked or breached, underlining how closely confidence in AI is tied to security and oversight.
At the same time, respondents showed a willingness to use AI where the benefits were clear. UK consumers were most comfortable adopting AI in practical settings, especially where it could improve response times, reliability or value for money.
Some 59% cited improved response times as a reason for being comfortable with AI use, while 52% pointed to better value and 35% to reliability. The results suggest many users judge AI less by novelty than by visible outcomes.
Use in more sensitive sectors was also evident, though often with an emphasis on safeguards. Half of UK respondents said they had consciously used AI as part of a health or wellness experience in the past six months, while 35% had used it in financial activities, where privacy and consistency are likely to carry greater weight.
Matthew Ringelheim, EY UK and Ireland AI Leader, said: “AI adoption in the UK is rapidly advancing, but trust is not keeping pace with technological capability. Whilst consumers are engaging with AI every day, many still want greater clarity about who is accountable when decisions are made on their behalf.
“This is a critical moment for organisations. As AI systems become more autonomous, trust must be embedded through strong data foundations, clear accountability and visible human oversight. Our research shows UK users want greater control and transparency, reinforcing the need to move beyond AI adoption for its own sake. Organisations that can clearly demonstrate how autonomy is governed, and how people retain meaningful control, will be best positioned to scale AI responsibly and unlock long-term value.”
Skills question
The survey also highlighted a shortage of training. Only 23% of respondents said they had received significant training or education in AI, suggesting many users are engaging with the technology with little formal guidance.
That matters because training appears linked to confidence as well as practical use. A better understanding of how systems work, where they can go wrong and when human judgement is needed could help address some of the unease captured in the survey.
The findings point to a more cautious stage in AI adoption in the UK. Consumers continue to use AI across a widening range of tasks, but they are drawing firmer lines around where automation should stop and where human oversight should remain visible.
For businesses, that leaves a mixed picture. Demand for AI tools and services is clearly established, yet broader acceptance of more autonomous forms of AI may depend on whether organisations can show that systems are secure, decisions are accountable and users can intervene when needed.
Ringelheim said: “Alongside trust, skills development plays a critical role in successful AI adoption. As AI tools become more capable, people will need greater confidence in how they’re used at work and clearer, practical guidance on how to use them responsibly. Training also better equips users to spot errors, challenge outputs and make more informed decisions about when to rely on AI and when to apply human judgement. Workforce confidence – built through the right skills – will be decisive in turning AI momentum into long-term growth for the UK.”
Business & Technology
Luma opens Uni-1.1 API to image developers in Europe
SOFIAH NICHOLE SALIVIO
News Editor
Luma has opened access to the Uni-1.1 API, extending its unified intelligence model to developers.
The API uses a REST interface built on what Luma describes as a single model for text and image generation, rather than separate systems combined at inference. The model is decoder-only and autoregressive, with text and image tokens handled in one sequence.
The release is another product step for Luma as it expands its presence in Europe. The company says it has a 200-person office in London, building on an expansion announced late last year.
Backers include Humain, AMD and Andreessen Horowitz. Luma positions Uni-1.1 as a system that can reason through visual and textual instructions in the same pass before producing an image.
Developer focus
Luma is targeting developers building creative and design workflows. One intended use is handling briefs with multiple constraints, including spatial logic and composition, within a single generation process.
Another feature is continuity across a series of outputs. Developers can submit up to nine reference images to maintain identity, style and composition across campaigns, reducing shifts in visual style between generations.
Luma has also introduced a modify-image endpoint for localised edits. It lets users request changes such as background swaps or lighting adjustments in natural language rather than through more detailed prompt construction.
According to Luma, the API generates an image in about 31 seconds. It says the service is designed to offer lower latency and lower cost than comparable models, while supporting multiple languages for broader distribution.
Competitive market
The launch comes as developers and creative software groups seek more reliable ways to generate and edit images through APIs. Many existing tools rely on separate language and image models linked together, an approach that can create inconsistency between the instruction stage and the final output.
Luma argues that its architecture addresses that issue by treating text and image tokens as part of one sequence. In practice, the system is designed to resolve structure and creative intent before image generation begins.
Luma also cited benchmark performance in support of adoption. It says Uni-1 leads RISEBench in spatial logic and ranks first on Human Preference Elo, though the announcement did not include further detail on testing conditions.
Industry users
The API is already in production or committed with several creative and developer platforms, according to Luma. It named Adobe, Envato and Freepik among creative industry users, alongside Fal and Krea on the developer side.
Those names suggest Luma is seeking to place its model within both established design software ecosystems and newer AI-native tools, giving it routes into professional creative teams as well as independent developers building image-generation and editing products.
The market for generative AI interfaces is increasingly crowded as model developers try to differentiate on quality, speed, controllability and price. In this release, Luma is emphasising consistency across campaigns, natural-language editing and a unified model design that it says avoids the weaknesses of stitched systems.
Its London operation may also matter as AI companies compete for engineers and customers in Europe while facing closer scrutiny over deployment, copyright concerns and the commercial use of generated media. A larger local presence can support hiring, partnerships and product support in the region.
For now, the immediate significance is that Uni-1.1 is moving from more limited availability to broader developer access.
Business & Technology
All Las Iguanas restaurants at risk amid financial difficulties
Iguanas Holdings Limited, which runs 47 Las Iguanas restaurants across the country, has “fallen into financial difficulties”, the company’s lawyers told the High Court on Wednesday (May 6).
They explained the casual dining sector in the UK had suffered “substantial problems” in recent years.
Despite Iguanas Holdings and parent company Big Table doing “their best to meet these problems”, trading conditions remain “very challenging”.
Iguanas Holdings’ barrister, Ryan Perkins, said these challenging conditions led to the company losing nearly £10 million in the 2025 financial year.
The company has only been able to continue trading due to support from Big Table, Mr Perkins added.
Now, if a restructuring plan isn’t approved, the company will have “no funding to continue trading” and could fall into administration.
This would force the closure of all 47 Las Iguanas restaurants across the UK.
Full list of Las Iguanas stores at risk of closing
The full list of Las Iguanas stores at risk of closing is:
Iguanas Holdings’ proposed “turnaround strategy”
A ‘convening hearing’ took place in London on Wednesday, with Mr Perkins requesting permission to hold meetings with creditors to vote on a restructuring plan for Iguanas Holdings.
In written submissions, the barrister said the proposed scheme will wipe out debts of around £37 million owed to one of its creditors, and will see Big Table inject £3 million into the company as part of a “turnaround strategy”.
The company will also request a reduction in rent at some locations, and a “compromise” on some debts owed to landlords.
If this restructuring plan was not approved, Mr Perkins said Iguanas Holdings would have “no choice” but to enter administration.
In a ruling, Mr Justice Hildyard said he was “content to approve what is proposed” and allowed the company to take the plan to creditors at meetings scheduled for May 28.
If they vote in favour of the scheme, the plan is due to return to the High Court officially approved by a judge at a ‘sanction hearing’ scheduled for June 5.
Other UK companies that have closed or entered administration/liquidation in 2026 (so far)
It has been a rough start to 2026 for the UK high street, with several other retailers entering administration and others announcing widespread store closures.
Major high street retailers LK Bennett and Claire’s both closed all their stores in April, having previously fallen into administration.
Other retailers have been forced to close stores this year, including:
Several other companies have fallen into administration, including:
Meanwhile, four UK travel companies have closed in 2026:
Luxury UK holiday company Salamander Voyages also shut down recently after entering administration.
EcoJet Airlines, billed as “the world’s first Electric Airline”, entered liquidation earlier this year after just three years, resulting in the cancellation of all planned flights.
What has a nose, wings and runs off of hydrogen? Ecojet 😎 pic.twitter.com/y8QGiBdFe2
— ecotricity (@ecotricity) July 17, 2023
UK delivery company Yodel is set to be phased out over the coming months after being acquired by InPost.
It’s also been reported that Morrisons is looking to sell some of its in-store pharmacies as it continues to cut costs.
It’s not been all bad news for the UK high street, with several major brands announcing new store openings for 2026, including Aldi, M&S, and Superdrug.
Is there a Las Iguanas restaurant near you at risk? Let us know in the comments below.
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