Las Iguanas, a prominent UK restaurant chain, has narrowly avoided administration after a High Court judge approved a restructuring plan aimed at stabilizing its 44 locations. The company, which has been struggling with significant financial losses, reported nearly £10 million lost in the 2025 financial year. The approved plan will see Iguanas Holdings Limited receive a £3 million cash injection from its parent company, The Big Table Group, which also owns other restaurant brands. Additionally, the plan will wipe out approximately £37 million in debts owed to creditors, while also imposing rent reductions on landlords. Despite some creditor opposition, none contested the plan in court, and it was noted that similar restructuring strategies have been employed by other high-street chains facing economic challenges. The casual dining sector has been particularly hard-hit by rising inflation and decreased consumer spending, making the future of Las Iguanas uncertain but hopeful as it embarks on this turnaround strategy.