Plans for Burger King are benched
PLANS to bring a Burger King to Loughborough town centre appear to be up in the air after two of the chain’s franchisees went into administration.
In February, fast-food franchisee Millcliffe Ltd began advertising for a number of various jobs at a new restaurant in Loughborough town centre which was expected to open in May 2017.
However, Millcliffe Ltd, along with CPL Foods Ltd, which run a total of 36 Burger Kings across the UK, have both now gone into administration.
Nick Cropper, Ryan Grant and Catherine Williamson, of business advisory firm AlixPartners, were appointed joint administrators of the firms earlier this month.
It has been reported that the companies had been hit by cash flow pressure because of delays in developing and opening new stores as part of their growth strategy.
While the joint administrators are ‘exploring all possible options’, the 36 restaurants will continue to serve food.
Mr Cropper said: “Our priority now is to work closely with the business and determine the optimum route forward for the companies as we continue to serve our valued guests throughout the UK.
“We are confident that the companies are an attractive proposition for a range of potential buyers and, as such, we expect and welcome contact from interested third parties.”
The Echo was told by a well-placed source that the proposed new Burger King restaurant was to open in Market Street.
But when contacted by the Echo, a spokesperson for Burger King said: “Burger King franchisees are regularly evaluating opportunities to bring our great-tasting products to more guests in new locations.
“We do not currently have any information regarding a restaurant at this location but will keep you informed of further information if it becomes available.”