GBK exploring 'all options' for long-term sustainability

By Georgia Cronin

- Last updated on GMT

GBK exploring 'all options' for long-term sustainability Coronavirus

Related tags: Gbk, Restaurant, Coronavirus

Gourmet Burger Kitchen's parent company Famous Brands has said it is continuing to explore “all options” to ensure the long-term sustainability of the brand in the wake of the Coronavirus crisis.

In April this year, the South African-based group said it would no longer fund its loss-making GBK restaurants​ and has since appointed Deloitte to advise on its options.

While deliberations are ongoing, the company has said that it remains “singularly focused” on navigating its recovery from the impact of the pandemic, which could include flexing the model to capitalise on opportunities to gain market share, and leveraging GBK’s equity.

In a market update issued on 24 July, the business forecast that its 27 open GBK restaurants would generate 49% of the revenue earned for the same period last year, and it has now confirmed that the reopened sites achieved this target.

Currently, of its 62 UK restaurants, 37 are open for delivery, collection and dine-in, with the remaining 25 closed for the time being.

Commenting on the update, Famous Brands said: “Under the current prescribed trading restrictions, management is pleased to report that our customers have responded positively to the reopening of our restaurants within the Government guidelines, and the Board of GBK is satisfied with the operational performance of the stores which are currently trading.”

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