Ranjit Bopran buys Gourmet Burger Kitchen (GBK) through a pre-pack administration.
Bopran is no stranger to the causal dining market. The poultry tycoon rescued Carluccio’s just earlier this year. He has built one of the largest casual dining groups by a string of takeovers. Currently, he owns chains; Giraffe, Ed’s Easy Diner and Fishworks.
In this pre-pack deal with GBK, 669 jobs and 35 restaurants are to be saved. This comes at the expense of 26 site closures and 362 job losses (sites to close are listed below).
Deloitte are handling GBK’s pre-pack.
This comes as GBK’s current owner, Famous Brands, indicated it would not be providing any further funding to support the struggling UK operation.
GBK underwent a company voluntary arrangement (CVA) in 2018, which included the closure of many of its stores.
With the current situation, restaurants chains are feeling the pressure. Many have resorted to insolvency processes, auctions or immediate fundraising, in order to survive. Wahaca recently completed a CVA, enabling it to be on more suitable financial grounds.
Site closures include:
Angel, Baker Street, Berners Street, Brunswick, Covent Garden, Clink Street, Spitalfields, Tower Bridge, Wandsworth, Battersea, Bayswater (London)
Walton on Thames