Vegan burger restaurant Frost Burgers enters administration
Begbies Traynor is now looking for someone to buy the leases and the assets of the company, including ready-made commercial kitchens
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Frost Burgers, a vegan burger restaurant in Manchester and Liverpool, has entered into administration following “financial distress”.
Paul Stanley and Jason Greenhalgh from Begbies Traynor have been appointed as joint administrators after the vegan restaurant chain ceased trading last month.
The firm is now looking for someone to buy the leases and the assets of the company, including ready-made commercial kitchens.
Founded in 2018 by social media influencer Monami Frost, the vegan burger chain offered an 100% plant-based menu, serving burgers, fries and milkshakes, and it achieved turnover of £515,811 last year.
Paul Stanley, North-West regional managing partner at Begbies Traynor, said: “Despite gaining an excellent reputation, Frost Burgers has become just one of the many businesses within the hospitality sector that have experienced financial distress.
“Restaurants in particular, are struggling to afford raw ingredients and many are struggling with their energy bills. The hospitality sector is also taking a huge hit from labour shortages as well as debts accrued over lockdowns, including bounce back loans. It is likely that more restaurants will find themselves in a similar position.”
According to the latest Red Flag Alert data produced by Begbies Traynor, almost 2,000 bars and restaurants in the North-West region are operating under significant financial distress.
