Coronavirus: GBK turns into newest burger chain to be flipped | Enterprise Information
The proprietor of Gourmand Burger Kitchen (GBK) has kicked off a course of to promote the chain, making it the newest informal eating operator to hunt an exit amid turbulent buying and selling exacerbated by the coronavirus pandemic.
Sky Information has learnt that the brand new proprietor of Byron, the rival burger chain, is plotting to purchase GBK and mix the 2 companies.
Hospitality trade sources stated that Deloitte had begun approaching potential consumers of GBK previously week, though it was unclear whether or not a transaction can be potential on a solvent foundation.
GBK’s present proprietor, South Africa-based Well-known Manufacturers, has indicated that it could not present additional funding to assist the UK operation, which earlier than the pandemic operated from 62 shops and employed practically 1,300 employees.
The chain underwent a financial restructuring in 2018 within the type of an organization voluntary association which resulted within the closure of dozens of eating places.
Insiders stated that Calveton UK, which bought Byron through a pre-pack administration a number of weeks in the past, had already expressed an curiosity in buying GBK.
The Byron transaction concerned simply 20 of its 51 websites remaining open and greater than half its workforce being made redundant.
The axed Byron staff added to the grim toll of hospitality trade staff who’ve misplaced their jobs because the begin of the COVID-19 disaster.
Business specialists consider that the scheduled closure of the federal government’s furlough scheme on the finish of October is more likely to entail substantial new redundancies throughout the sector and past.
Deloitte is dealing with the GBK sale course of.
Each events declined to remark.