Handmade Burger Company Goes Into Administration
The Handmade Burger Company, which has been in business for more than ten years, has collapsed into administration.The Birmingham based Burger chain of 29 UK restaurants, founded by three brothers Chris, Richard and Matthew Sargeant, has collapsed into administration following the increasing debt that the firm has accumulated.
The adminstrators have had to make 163 people redundant and closed the following restaurants;
- Metro Centre, Gateshead
- Braehead Shopping Centre, Glasgow
- Grand Central Bullring Shopping Centre Birmingham
- East Kilbride Leisure Hub, Glasgow
- Trinity Walk, Wakefield
- Intu Victoria Centre, Nottingham
- Intu Eldon Square, Newcastle upon Tyne
- The Gate, Newcastle upon Tyne
- White Rose Shopping Centre, Leeds
Administrators from the firm Leonard Curtis Recovery issued a statement on the 7th of July confirming it had been appointed as joint administrators of both the Sargeant Partnership Limited and Hand Made Burger Company LLP, which operate as a singular business under the name Handmade Burger co. Immediately the firm has said that 9 of the 29 restaurants were to be closed. The remaining restaurants will continue to trade as normal under the joint Administrators’ control, to which they hope they can find a solution to problems the company is facing and reduce the amount of job losses incurred.
Julien Irving, one of the administrators, said: “We are monitoring trade closely and looking to get a Company Voluntary Arrangement (CVA) in place which we consider to be the best outcome for all parties. If the proposal has the support of the creditors, then a CVA may allow the business to continue.
It is possible to have a company voluntary arrangement after an administration and it can be a very effective rescue mechanism. In fact we have rescued a business in this very way a few years ago see our rescue stories