Creditors give green light to Gourmet Burger Kitchen closures

Gourmet Burger Kitchen’s plan to close 17 of its restaurants was given the go-ahead by creditors today, as the firm looks to abandon its underperforming restaurants as part of a major restructuring plan.

Some 250 jobs could be axed as a result of the closures, which have been triggered through a controversial insolvency plan used by companies to renegotiate rent and shut outlets. 

GBK, which has 80 stores and employs roughly 2,000 people, has suffered from stiffer competition and high fixed costs like many of its retail rivals in recent months. 

Managing director Derrian Nadauld said: "We'd like to thank the landlord community, our trade suppliers and our restaurant teams for their support through a challenging process.

"With the positive vote on our proposal to restructure our property portfolio, we are now able to execute the final stage of our turnaround plan, which we are confident will position the business for long-term sustainable growth".