A UK restaurant chain operator told the High Court it will run out of money unless a restructuring plan is approved, with the judge granting permission to put the plan to a creditor vote.

Iguanas Holdings Limited, operating 44 Las Iguanas UK restaurants and owned by The Big Table Group, told the High Court it will run out of money without court-approved restructuring to wipe out ~£37m in debts, secure a £3m cash injection from Big Table, impose rent reductions on landlords, and face a creditor vote on May 28 followed by a sanction hearing on June 5.