Ranjit Singh Boparan buys Gourmet Burger Kitchen in rescue deal

Gourmet Burger Kitchen has been bought out of administration by the food industry tycoon Ranjit Singh Boparan in a deal that will save more than 660 jobs.



a sign hanging off the side of a building: Photograph: Maureen McLean/REX/Shutterstock


© Provided by The Guardian
Photograph: Maureen McLean/REX/Shutterstock

Boparan, who bought Carluccio’s in May, has bought 35 of the burger restaurant’s sites. However, under the pre-pack administration deal, 26 other sites will close, with the loss of 362 jobs.

The burger chain, which was owned by the South African company Famous Brands, which also owns Wimpy in the UK, was put on the market as it struggled amid the pandemic and high street lockdown.

But Gourmet Burger Kitchen has been in difficulties since a restructuring deal with landlords in 2018 under which it agreed to close up to 17 sites after the casual dining market became oversaturated.

Gavin Maher, a partner at Deloitte who was appointed joint administrator on Wednesday, said: “The broader challenges facing ‘bricks and mortar’ operators, combined with the effect of the lockdown, resulted in a deterioration in financial performance and a material funding requirement.

“We have been working closely with the management team under very difficult market conditions to try and find a funding solution, and I am glad to be able to announce the rescue of this well-loved brand together with a large proportion of the sites and workforce. However, it’s clearly disappointing that a number of sites have had to close resulting in today’s redundancies.”



a sign hanging off the side of a building: A Gourmet Burger Kitchen restaurant in Bracknell.


© Photograph: Maureen McLean/REX/Shutterstock
A Gourmet Burger Kitchen restaurant in Bracknell.

Labelled the “chicken king” as he is the co-owner and founder of 2 Sisters Food Group, which supplies about a third of the chicken on UK supermarket shelves, Boparan’s business interests includes turkey producer Bernard Matthews, the upmarket London restaurant The Cinnamon Club restaurant, as well as the Giraffe and Ed’s Easy Diner chains.

Satnam Leihal, the managing director of Boparan Restaurant Group, said: “This latest acquisition is in line with our strategy to grow our restaurant group with quality brands. Whilst it is an extremely challenging time for the sector, we believe quality hospitality businesses will recover in the long term as people return to eating out.”

Boparan is extending his empire as restaurants and pubs face intense financial pressure during the coronavirus crisis.

UK operators were forced to close for several months in March and continue to suffer from local lockdowns in some parts of the country, as well as from low visitor numbers on high streets, retail parks and shopping centres in general.

With profits under pressure, Pizza Hut, Pizza Express, Azzurri Group, which ownsAsk Italian and Zizzi, and the Casual Dining Group, which owns Bella Italia, Café Rouge and Las Iguanas, have all closed outlets, putting thousands of jobs at risk.

Gourmet Burger Kitchen sites to close under the deal

Angel, London

Aylesbury

Baker Street, London

Berner Street, London

Brunswick Centre, London

Canterbury

Cardiff Library

Chichester

Clink Street

, London

Covent Garden, London

Edinburgh

Glasgow

(closed before administrators were appointed)

Maidstone

Nottingham

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Ranjit Singh Boparan buys Gourmet Burger Kitchen in rescue deal | Business

Gourmet Burger Kitchen has been bought out of administration by the food industry tycoon Ranjit Singh Boparan in a deal that will save more than 660 jobs.

Boparan, who bought Carluccio’s in May, has bought 35 of the burger restaurant’s sites. However, under the pre-pack administration deal, 26 other sites will close, with the loss of 362 jobs.

The burger chain, which was owned by the South African company Famous Brands, which also owns Wimpy in the UK, was put on the market as it struggled amid the pandemic and high street lockdown.

But Gourmet Burger Kitchen has been in difficulties since a restructuring deal with landlords in 2018 under which it agreed to close up to 17 sites after the casual dining market became oversaturated.

Gavin Maher, a partner at Deloitte who was appointed joint administrator on Wednesday, said: “The broader challenges facing ‘bricks and mortar’ operators, combined with the effect of the lockdown, resulted in a deterioration in financial performance and a material funding requirement.

“We have been working closely with the management team under very difficult market conditions to try and find a funding solution, and I am glad to be able to announce the rescue of this well-loved brand together with a large proportion of the sites and workforce. However, it’s clearly disappointing that a number of sites have had to close resulting in today’s redundancies.”

Labelled the “chicken king” as he is the co-owner and founder of 2 Sisters Food Group, which supplies about a third of the chicken on UK supermarket shelves, Boparan’s business interests includes turkey producer Bernard Matthews, the upmarket London restaurant The Cinnamon Club restaurant, as well as the Giraffe and Ed’s Easy Diner chains.

Satnam Leihal, the managing director of Boparan Restaurant Group, said: “This latest acquisition is in line with our strategy to grow our restaurant group with quality brands. Whilst it is an extremely challenging time for the sector, we believe quality hospitality businesses will recover in the long term as people return to eating out.”

Boparan is extending his empire as restaurants and pubs face intense financial pressure during the coronavirus crisis.

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UK operators were forced to close for several months in March and continue to suffer from local lockdowns in some parts of the country, as well as from low visitor numbers on high streets, retail parks and shopping centres in general.

With profits under pressure, Pizza Hut, Pizza Express, Azzurri Group, which ownsAsk Italian and Zizzi, and the Casual Dining Group, which owns Bella Italia, Café Rouge and Las Iguanas, have all closed outlets, putting thousands of jobs at risk.

Gourmet Burger Kitchen sites to close under the deal

Angel, London
Aylesbury
Baker Street, London
Berner Street, London
Brunswick Centre, London
Canterbury
Cardiff Library
Chichester
Clink Street
, London
Covent Garden, London
Edinburgh
Glasgow
(closed before administrators were appointed)
Maidstone
Nottingham
Richmond
, London

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Gourmet Burger Kitchen to axe 362 jobs and 26 restaurants despite rescue sale

Gourmet Burger Kitchen (GBK) is to close 26 restaurants and axe 362 roles despite being saved from administration.

The chain has been bought in a rescue deal by Boparan Restaurant Group, which also snapped Carluccio’s out of insolvency earlier in the pandemic.



GBK said it had started to see improvements in trading last year after a major restructuring process in 2018, which saw it shut a raft of sites.

However, the company, which had been owned by South African group Famous Brands, said it slid into administration after the virus impacted upon its liquidity and potential to be sold as a solvent business.

The sale will secure the future of 35 GBK restaurants (Rick Findler/PA)
The sale will secure the future of 35 GBK restaurants (Rick Findler/PA)

The group has now been sold in a pre-pack administration deal after working with insolvency specialists at Deloitte.

It said the move will save 35 sites and 669 jobs from its original network of 61 restaurants and 1,031 employees.

Gavin Maher, joint administrator at Deloitte, said: “As with a number of dining businesses, the broader challenges facing ‘bricks and mortar’ operators, combined with the effect of the lockdown, resulted in a deterioration in financial performance and a material funding requirement.

“We have been working closely with the management team under very difficult market conditions to try and find a funding solution and I am glad to be able to announce the rescue of this well-loved brand together with a large proportion of the sites and workforce.

“However, it’s clearly disappointing that a number of sites have had to close resulting in today’s redundancies.

“We would like to thank all of those involved in the transaction, including our legal advisers, DLA Piper, and wish the management team, workforce and the new owners, Boparan Restaurant Group, every success in now taking the business forward.”

It is the latest expansion in dining for Boparan, which is owned by “Chicken King” Ranjit Boparan and also owns the chains Giraffe and Ed’s Easy Diner.

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Gourmet Burger Kitchen rescued by Giraffe owner



a person that is eating some food


© Getty Images


Restaurant chain Gourmet Burger Kitchen has been bought out of administration by Boparan Restaurant Group.

The deal includes 35 sites and 669 jobs. However, 26 restaurants and 362 jobs will be lost.

Boparan owns the Giraffe chain and is owned by Ranjit Boparan, who founded 2 Sisters chicken processing company.

GBK, which has had several owners, was most recently owned by South Africa-based Famous Brands.

It was sold out of administration by accountancy firm Deloitte.

“As with a number of dining businesses, the broader challenges facing ‘bricks and mortar’ operators, combined with the effect of the lockdown, resulted in a deterioration in financial performance and a material funding requirement,” Gavin Maher, Joint Administrator at Deloitte, said.



a store in a brick building


© Getty Images


“We have been working closely with the management team under very difficult market conditions to try and find a funding solution and I am glad to be able to announce the rescue of this well-loved brand together with a large proportion of the sites and workforce.

“However, it’s clearly disappointing that a number of sites have had to close resulting in today’s redundancies.”

The company has been in trouble since November 2018 when it entered a Company Voluntary Arrangement.

Since then, the coronavirus lockdown has hit sales, Deloitte said.

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WOW House: Spacious Home Boasts Gourmet Kitchen, Stone Fireplace

HERNDON, VA — Welcome home to this sparkling, well-maintained home on an oversized, private .61-acre sanctuary, with approximately 5, 700 square feet of finished space in the Langley School Pyramid. This Laing-built Wilde model features four bedrooms, 3 1/2 baths, and hardwood floors throughout the main and upper levels.

  • Address: 1067 Methven Ct, Herndon, Virginia
  • Price: $1,065,000
  • Square Feet: 5700
  • Bedrooms: 4
  • Bathrooms: 3 Full and 1 Half Baths
  • Built: 1997
  • Features: The gourmet kitchen with newer 5-burner stove (2019), Electrolux double oven, and large pantry, incorporates eat-in space, a light-filled breakfast room that opens to a large great room with two-story soaring windows and a beautiful stone fireplace with gas insert. The expansive foyer showcases a striking, custom-crafted curved staircase with wrought iron detail. This open and functional main level also features a formal living room with beautiful, vaulted ceiling and palladian windows, a dining room with double chandeliers, and a quiet office with bay window, perfect to maximize work from home efficiency! Access the grand owner’s suite and three additional bedrooms from the curved staircase or the secondary back staircase. The large owner’s suite features a sitting area, separate walk-in closets, a fully renovated master bath with jetted tub and roomy shower with frameless doors. All bedrooms feature ceiling fans and large windows offering plenty of sunlight. A gorgeous sweeping back yard with garden space, grape arbor, mature shade trees and landscaping provide privacy for outdoor games and entertaining. The walk-up lower level boasts a custom-built wet bar with double wine coolers and kegerator, an expansive recreation room with gas fireplace, bonus room, full bath, storage room, laundry, workshop and plenty of extra closet space! (Pool table lamp does not convey) Perfect for commuters with direct access to Fairfax County Parkway and Route 7, quick walk to Grand Hamptons Soccer Field Park, 5 to 12 minutes to Reston Town Center, Route 28, 267, Dulles Airport, Dulles Technology Corridor, and Wiehle Metro Station. Close shopping and restaurants!

This listing originally appeared on realtor.com. For more information and photos, click here.

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$789K Lemont Home With Gourmet Kitchen, Hot Tub Room

LEMONT, IL — This Lemont home in Mayfair Estates was built in 2008. The home offers 4,400 square feet with five bedrooms, four full and one half bath. Some other features of the home include: two-story foyer, gourmet kitchen, wet bar, first-floor office and a hot tub room.

  • Address: 12880 Mayfair Dr, Lemont, Illinois
  • Price: $789,900
  • Square Feet: 4445
  • Bedrooms: 5
  • Bathrooms: 4 Full and 1 Half Baths
  • Built: 2008
  • Features: Spectacular, CUSTOM residence located in highly sought after Mayfair Estates. Impressive architectural design accented with stone/brick construction and lush, mature landscaping. Welcoming two story foyer with a grand staircase and elegant chandelier. Formal living room with a beautiful bay window and decorative tray ceilings. Formal dining room offers the perfect space to entertain on a grand scale with gleaming hardwood flooring. Stunning two story great room with soaring ceilings and awe inspiring floor to ceiling fireplace with custom mill work. Massive gourmet kitchen features custom cabinetry, large island/breakfast bar seating, granite counter tops stainless steel appliances, range hood and an amazing wet bar with additional cabinetry for any home essentials. Quaint eating area with access to expansive deck perfect for entertaining. First floor office with french doors, coffered ceilings and wall to wall custom built ins. Lovely master suite with vaulted ceilings, hardwood flooring and expansive walk in closet space. Luxurious master bath with whirlpool tub, separate shower and custom dual vanities. Three additional bedrooms on the second level, two bedrooms share a jack and jill bathroom and the third has it’s own full private bathroom with huge walk in shower. PLUS a MASSIVE BONUS ROOM on the second level with vaulted ceilings and a WOW factor. FULL finished lower level boasts recreation area, 5th bedroom, family area with CUSTOM STONE wall to wall fireplace, workout area, FULL bathroom, hot tub room, which is the ultimate space for relaxation and exterior access. Lemont High School is a National Blue Ribbon School Conveniently located near parks/playgrounds, shopping, expressways, dining and more. Call for your private showing today. Unbelievable finished square footage for the price. Schedule your appointment for a private showing today.

This listing originally appeared on realtor.com. For more information and photos, click here.

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