Gourmet Burger Kitchen has become the latest restaurant group to start an insolvency process to cut outlets in an attempt to survive on the high street.
Famous Brands, the South African owner of the burger chain, said yesterday that it had initiated a company voluntary arrangement, an insolvency process that allows a business to close stores and slash rents, typically at the expense of landlords.
It said that it planned to shut 17 restaurants. About 250 jobs are at risk under the CVA, which requires creditors’ approval.
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