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Possibility of CVA moves closer for Gourmet Burger Kitchen
Rising costs still continues to damage restaurants in high streets.
Gourmet Burger Kitchen has hired restructuring advisers from Deloitte to beat deals on rent cuts and site closures that could lead the burger chain to a company voluntary arrangement (CVA).
As reported by The Sunday Times, the brand by South Africa’s Famous Brands are the latest chain that is in danger of having closures.
Last March 8, it was reported that the Gourmet Burger Kitchen suffered a £7.8 million operating loss. It was also speculated last July that they may enter into CVA when their like-for-like sales took a 10.6% decrease.
