Thai dining establishment Busaba Eathai has been sold out of administration through a pre-pack arrangement with Seaco Investments, ensuring the retention of 240 jobs.
As stated in Business Sale Report, the chain currently operates six venues in London and one restaurant in Essex.
Established in 1999 by Alan Yau, Busaba Eathai expanded its footprint beyond London in 2016, launching restaurants in Manchester, Liverpool and St Albans, along with a franchise in Dubai.
However, these locations closed within three years. The company underwent a company voluntary arrangement (CVA) in 2020, at which point it had 13 sites in London.
Busaba Eathai has subsequently faced multiple closures, including those of its locations in Bloomsbury and Kingston upon Thames in 2025, ultimately leaving it with six restaurants in London at the time it entered administration.
The chain had also opened restaurants in Cardiff and Oxford, but both ceased operations in 2023. In 2024, it indicated a shift in focus back to London and nearby areas.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAccording to its most recent financial statements for the year ending 17 September 2023, Busaba reported a turnover of £21.1m ($28.5m), a slight decline from the previous year, while reducing its post-tax losses from £3.1m to £1.8m.
Company directors cited a 2% like-for-like drop in sales, linked to the cost-of-living crisis and rising expenses for food, energy and staffing.
On 16 July 2025, Neil Bennett and Alex Cadwallader from Leonard Curtis were appointed as joint administrators for Busaba Eathai. They facilitated the pre-pack sale to Seaco Investments, which is led by Ronald Seacombe.
Bennett stated that the company had “experienced tough trading conditions” over recent years, as has much of the wider hospitality industry, with headwinds including inflation, the cost-of-living crisis and a substantial increase in utilities costs.
“The pre-pack sale has allowed us to transfer the business smoothly and has saved a long-standing London Thai restaurant along with hundreds of jobs.”
