Jobs at risk as Gourmet Burger Kitchen confirms CVA

Gourmet Burger Kitchen is the latest restaurant chain to fall victim to the high-street woes.

As many as 250 jobs are at risk as the owners of GBK  confirmed plans to launch a restructuring plan that could see 17 restaurants close in the UK.

Under the terms of Gourmet Burger Kitchen's CVA, 17 restaurants have been earmarked for closure, which would impact on c250 jobs @gbkburgers

— MCA (@MCAInsight) October 24, 2018

“The CVA process has the objective to ensure financial viability and the sustainability of the business into the future,” Famous Brands, the South African owner of the chain, said in a statement.

“Whilst this process evolves, shareholders will be updated when appropriate and are requested to continue to exercise caution in the trading of Famous Brands shares,” it added.

Last week, Famous Brands had announced a £676.56m pre-tax loss at the group level.