Gourmet Burger Kitchen to close 17 restaurants
A FIFTH of Gourmet Burger Kitchen’s branches are to close after creditors approved the company’s restructuring plan yesterday.
The restaurant chain is to close 17 sites as part of a company voluntary arrangement (CVA), putting 250 jobs at risk.
GBK said it would try to redeploy staff where possible.
“We’d like to thank the landlord community, our trade suppliers and our restaurant teams for their support through a challenging process,” said managing director Derrian Nadauld.
“With the positive vote on our proposal to restructure our property portfolio, we are now able to execute the final stage of our turnaround plan, which we are confident will position the business for long-term sustainable growth”.
South Africa’s Famous Brands, which acquired GBK in 2016 for £120 million, has previously unveiled stinging losses at the burger chain.
The firm said in October that it would take a pre-tax impairment charge of 874 million rand (£47.2 million) due to the brand’s sustained under-performance.