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.

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.