Gourmet Burger Kitchen

Today’s news in brief – 11/10/23

Marston’s saw total retail sales rise by 11.2% during FY23, ended 30 September, with like-for-like sales rising by 10.1% compared with FY22. Sales for the 10-week period from 23 July to 30 September increased by 7.7% year-on-year. This included an upturn in the last five weeks, where like-for-like sales saw…

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Former GBK owner Famous Brands warns on profits

The board of directors of Famous Brands has issued a profit warning stating that its basic earnings per share (BEPS) may be 20% lower than expected for the six months ended 31 August 2023. The company stated that the reported BEPS is expected to be between 225 cents and 174…

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Wimpy profits surge to almost £1m

Wimpy Restaurants Group, owner of the Wimpy burger chain, has reported a rise in profits to almost £1m for the year ended 29 February 2020. Climbing from £716,319 to £990,663, the firm’s profits for the year represented a year-on-year increase of 38%. While the group’s revenue for the period did…

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Azzurri Group considering sale options

The Azzurri Group is reportedly working alongside advisors in a bid to find a potential buyer for the restaurant giant, according to Sky News.  The parent group of Ask Italian and Zizzi, which is currently owned by private equity firm Bridgepoint, is now in the process of contacting prospective bidders…

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Azzurri Group drafts in advisors

Azzurri Group has reportedly drafted in KPMG as advisors to help the hospitality giant navigate the ongoing coronavirus crisis.  According to The Sunday Times, the owner of Zizzi and Ask Italian has become the latest casual dining chain to draft in restructuring experts, following news that both Wahaca, Gourmet Burger…

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The hungry searcher

Last month, it was revealed Jamie’s Italian restaurant chain collapsed with 22 restaurant closures. This is the continuation of a trend which has seen a number of food outlets – including Ed’s Easy Diner, Giraffe and Gourmet Burger Kitchen (GBK) – close their doors, and has prompted speculation that Brits…

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Why are chain restaurants losing customers?

After the recent news of Jamie Oliver’s restaurant chain going into administration, concerns have been raised that the food industry is on a steep decline. Food and drink chain establishments such as Carluccio’s, Byron Burger and Gourmet Burger kitchen have also closed down some of their stores to cut costs,…

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10,000 restaurant jobs lost in 2018 with more expected

The casual dining crunch saw 30 people a day lose their jobs during 2018 through administrations, CVAs and rationalisation a study by the Centre for Retail Research (CRR) has revealed. Gourmet Burger Kitchen, Carluccios, Prezzo, Chimichanga, Byron and Jamie’s Italian were amongst the big name restaurant chains that closed outlets…

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The most controversial food and drink adverts of the past five years

Jaw-dropping, conversation-starting marketing campaigns are the best ways to get consumers interested in your brand and hopefully, buying your products. However, the mark is often missed and what was intended to be a talking point for a company can often lead to criticisms, backlash and calls to boycott. Here are…

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GBK ‘appoints restructuring advisors’ prompting CVA suspicions

Burger chain Gourmet Burger Kitchen (GBK) has reported appointed restructuring advisors Deloitte leading to suspicions that the company could be set to enter a company voluntary arrangement (CVA). According to The Times, Deloitte is seeking rent reductions and site closures for the chain which recently reported a loss of £2.24m…

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