Gourmet Burger Kitchen to close 17 restau­rants

Western Mail - - UK&WORLD NEWS -

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.

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