Gourmet Burger Kitchen closes a fifth of its restaurants because creditors approve a restructuring plan

Gourmet Burger Kitchen closes a fifth of its restaurants because creditors approve a restructuring plan

City & Finance Reporter for the Daily Mail

Bunting fight: one fifth of the Gourmet Burger Kitchen branches must close

Bunting fight: one fifth of the Gourmet Burger Kitchen branches must close

A fifth of the Gourmet Burger Kitchen branches are closed after the creditors have approved their restructuring plan yesterday.

The restaurant chain closes 17 locations as part of a corporate volunteer agreement (CVA), putting 250 jobs at risk.

GBK said it would try to re-employ staff where possible.

Managing director Derrian Nadauld said that creditors have now given their approval & # 39; we are able to perform the final phase of our reverse plan & # 39 ;.

The famous brands of South Africa, which GBK bought in 2016 for £ 120 million, have previously revealed their losses in the chain.

Store closures at GBK represent the last in a long line of restaurants closed this year.

Gaucho, Carluccio & # 39; s, Prezzo, Byron and Jamie & # 39; s Italian all had a hard time because the costs of the Brexit hit pound have increased.

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