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.

Victoria Beckham spoke to Emma Grede, a founding partner of Kim Kardashian’s Skims, on her Aspire YouTube podcast.

(Image: Ian West / PA)

She told the businesswoman that her daughter Harper, 14, had to go to a dermatologist a a couple of years ago after using too many products, causing bad skin.

She said: “She used to have beautiful skin, but like all young girls she was enticed by beauty brands and she was putting a lot of product on her face that was not suitable for her skin and consequently ended up going to see a dermatologist because her skin was really, really bad.”

Victoria’s ‘mini-me’, who wants to follow in her footsteps, watched her experiment with makeup, even watching her create her own line.

(Image: Ian West/PA)

Victoria said she also struggled with her skin, including suffering with child, teen and adult acne, jokingly saying: “Every acne under the sun, I’ve been there.” 

For years there’s been hype around the possibility of Harper setting up her own beauty line, with Victoria calling her a “little entrepreneur”, after putting together a presentation about launcher her own skincare line.

However, Victoria said she doesn’t want her to go through the skin troubles she did.

Sumillion has received a King’s Award for Enterprise in Sustainable Development, placing the Basingstoke-based IT provider among a small group of businesses recognised under the long-running honours scheme.

The recognition comes as the company argues that many organisations still buy technology in ways that increase both cost and environmental waste. In its view, procurement should put sustainability at the centre of decision-making rather than treat it as a secondary issue.

His Majesty The King approved the Prime Minister’s recommendation that Sumillion receive the award in the sustainable development category. The honours programme is widely regarded as the UK’s top formal business recognition.

Sustainability model

Sumillion works with organisations seeking to update their IT estates while reducing environmental impact. Its model centres on carbon-tracked procurement, circular lifecycle management and end-of-life processes designed to cut waste.

The business focuses on extending the working life of devices, improving their use across organisations and handling disposal more responsibly. It argues that these steps can lower carbon intensity per employee and per unit of revenue while reducing unnecessary spending on replacement equipment.

That position reflects a broader debate across the technology channel, where customers are under pressure to manage budgets more tightly while also meeting environmental targets. Suppliers and buyers are increasingly expected to show not only what equipment they purchase, but how long assets remain in service and what happens to them when they are retired.

Chief Executive David Manners set out that argument in direct terms.

“Too many organisations are still buying IT in a way that creates unnecessary cost and waste. Sustainability is often treated as an afterthought rather than a core part of procurement. We have shown that it is possible to reduce impact, improve efficiency, and deliver better outcomes at the same time,” said David Manners, Chief Executive, Sumillion.

Operational model

Sumillion’s internal environmental governance includes ISO 14001 certification, Carbon Literacy training and external assessment through EcoVadis, where it achieved a Silver rating this year. It also says changes to operations and energy use have helped reduce carbon intensity as the business has expanded.

Its environmental target is to reach Net Zero across Scope 1 and Scope 2 emissions by 2030. Those categories cover direct emissions from owned or controlled sources and indirect emissions from purchased energy.

The company links its environmental work with a social impact programme. Through its Green Partnership initiative, it says it has supported clean water projects in Ghana that have provided more than 85,000 people with access to safe drinking water.

It also says education projects backed by the programme have distributed more than 50,000 books and improved digital access. Those figures form part of Sumillion’s broader claim that commercial activity can be tied to measurable outcomes beyond its own operations.

Procurement pressure

The award comes at a time when IT procurement is receiving closer scrutiny from both finance and sustainability teams. Rising expectations around reporting, combined with pressure to control spending, have pushed organisations to look more closely at refresh cycles, asset utilisation and disposal routes.

In practice, that has led more buyers to examine refurbished hardware, longer deployment periods and more structured recovery of equipment at end of life. Providers that can document carbon impact and support reuse are taking a clearer role in those purchasing decisions.

For Sumillion, the award offers external recognition of a business model built around those themes. It believes the balance between cost, performance and sustainability will play a larger role in defining how organisations buy IT.

Basingstoke remains the company’s headquarters as it works with customers looking to modernise their technology estates while reducing waste through lifecycle management and procurement choices.