Gourmet Burger Kitchen’s performance in July satisfactory, says Famous Brands
Famous Brands, which announced in April it was no longer funding struggling Gourmet Burger Kitchen (GBK), said on Thursday the post-lockdown performance of the UK burger chain had been satisfactory.
The group had expected GBK’s revenue in July to be 49% of that of the same month of 2019, something that was accomplished, Famous Brands said in an update. Under current trading restrictions, customers had responded positively, the statement said.
Of the 62 GBK stores in the UK, 37 are open and offering full service. The balance of the 25 stores remain closed. Of the five stores in Ireland, one is open for full service and the other four remain closed.
The SA owner of Mugg & Bean, Steers and Wimpy spent more than R2.3bn buying the upmarket burger chain in the UK in 2016 but has lost money as UK consumer confidence plummeted after the Brexit referendum.
Famous Brands said its decision not to provide financial assistance to GBK came after the UK and Irish governments forced all restaurants to close for an indefinite time to reduce the spread of Covid-19.
With Katharine Child
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