Published:
Gourmet Burger Kitchen reportedly close to launch CVA process
Its South African fast-food chain owner also warned shareholders of US$60 million (£45 million) impairment.
Struggling restaurant chain Gourmet Burger Kitchen (GBK) is pressing ahead with an insolvency process, which will result in outlets closing and lowered rent costs.
The Sunday Times reported that GBK, owned by South Africa’s Famous Brands, had appointed Deloitte restructuring advisers to cut deals with landlords and is "close" to launching a company voluntary arrangement (CVA) process.
Reports of a possible CVA for the brand started early September.
