Famous Brands looks to offload Gourmet Burger Kitchen

By Joe Lutrario contact

- Last updated on GMT

Famous Brands looks to sell Gourmet Burger Kitchen

Related tags: Gourmet burger kitchen, Famous Brands, Burgers, Deloitte

Gourmet Burger Kitchen parent company Famous Brands has kicked off a process to sell the chain, Sky News reports.

Last month, the South Africa-based Famous Brands said it was exploring “all options” to ensure the long-term sustainability of the brand in the wake of the Coronavirus crisis.

It is understood that Deloitte – appointed to advise Famous Brands on its options since it said it would no longer fund GBK’s loss-making sites in April​– started approaching prospective buyers this week, although it remains unclear whether a transaction will be possible on a solvent basis.

According to Sky News, Calveton UK, which bought Byron through a pre-pack administration in late July, has expressed an interest in acquiring GBK and combining the two better burger brands.

Prior to the pandemic, GBK UK operated from 62 restaurants and employed nearly 1,300 staff.

The chain underwent a financial restructuring in 2018 in the form of a Company Voluntary Arrangement (CVA)​ which resulted in the closure of dozens of restaurants.

Related topics: Business

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