Burger King calls in advisers to review CVA options

Burger King is reportedly considering the closure of some of its small UK branches following a restructuring process brought on by the Covid-19 pandemic. 

According to Sky News, the restaurant’s UK operations team has called in advisers from AlixPartners to review options for one of its subsidiary companies, which owns approximately 25 fast-food outlets.

Reports suggest Burger King is considering a CVA or a pre-pack administration for the subsidiary. Sources close to the business told Sky that the restructuring “could entail the permanent closure of up to 10 of its restaurants with a number of potential job losses.”

Burger King currently operates 530 stores across the UK, with master franchisor of the chain Bridgepoint owning 118 sites. 

Sky has also confirmed that Bridgepoint is in discussions regarding the refinancing of the business to allow funds to be invested in opening more drive-thru restaurants.

Catering Today has contacted Burger King and Alix Partners for comment.