Pre-pack and CVA being explored for Burger King

29 September 2020

Pre-pack and CVA being explored for Burger King

Fast food giant, Burger King, is rumoured to be eyeing a range of restructuring options which include a pre-pack administration or company voluntary arrangement. As it stands currently, the former seems more likely for the subsidiary.

This comes as Burger King’s British operations have drafted in advisers from AlixPartners to help examine options for one of its subsidiary companies, which directly owns around 25 of the chains 530 UK outlets.

The restructuring could lead to the closure of up to 10 of its restaurants, with job losses not ruled out.

The chain has faced troubles in sales from the coronavirus lockdown, which has meant still today, not all of its sites have reopened. This is the case of many among the casual dining and wider restaurant sector as seen by recent names hitting the news such as Pizza Hut, Cote and Wahaca.

Sky News report more. Updates will follow as is heard

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