Fri, 07 Jul 2017 | ADMINISTRATION
The Handmade Burger Co has entered administration with nine of its 29 restaurants now closed.
The remaining 20 eateries are still trading under the control of administrators from Leonard Curtis Recovery while “a solution which will enable as many jobs as possible to be preserved” is sought.
The Birmingham-based restaurant, which has almost 900 staff, offers more than 40 various burgers using grass-fed Scotch beef and with different breads including sourdough and brioche buns, also providing vegan, vegetarian and halal options.
The next step for the business is to ask for approval from creditors to enter a company voluntary arrangement, a move “considered the best outcome for all creditors”. Failing that, pursuing a sale of the business would be the alternative.
Increasing rents, rates and staff costs have all hit the restaurant sector hard, yet Handmade Burger had recently mentioned branching out with additional sites. It had appointed Kevin Bacon, the former managing director of Frankie & Benny’s, as its new chairman in November.
Handmade Burger joins Byron, Five Guys, Honest Burgers, Gourmet Burger Kitchen and Shake Shack in a league of upmarket burger chains to have started up in the last ten years.
View restaurants in administration here
Subscribe to the Business Sale Report here
The wholesale business has an established trading history and has built up a strong reputation and a loyal customer base. Business is drawn from a wide demographic of clients with a good spread across different business sectors.
This is a unique opportunity to acquire a company specialising in luxury performance cycle clothing, utilising the finest specialist fabrics and cutting-edge construction techniques.
A leading internet-based provider of customisable and curated beauty box services. Over the last decade, the business has evolved from a premier subscription service to a leading internet-based provider of highly attractive and rapidly expanding beau...
WEB-BASED
11
|
Jul
|
Holiday letting agency acquires Cornish self-catering holiday specialist | BUSINESS SALE
Travel Chapter, a leading UK holiday letting agency, has ann...
11
|
Jul
|
Power services firm set to be acquired by US energy resilience group | BUSINESS SALE
The Wilmott Group Limited, a power services group with opera...
11
|
Jul
|
Dunfermline vehicle manufacturing services firm enters administration | ADMINISTRATION
A specialist manufacturing business based in Dunfermline has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.