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Ranjit Singh Boparan buys Gourmet Burger Kitchen in rescue deal

Gourmet Burger Kitchen has been bought out of administration by the food industry tycoon Ranjit Singh Boparan in a deal that will save more than 660 jobs.



a sign hanging off the side of a building: Photograph: Maureen McLean/REX/Shutterstock


© Provided by The Guardian
Photograph: Maureen McLean/REX/Shutterstock

Boparan, who bought Carluccio’s in May, has bought 35 of the burger restaurant’s sites. However, under the pre-pack administration deal, 26 other sites will close, with the loss of 362 jobs.

The burger chain, which was owned by the South African company Famous Brands, which also owns Wimpy in the UK, was put on the market as it struggled amid the pandemic and high street lockdown.

But Gourmet Burger Kitchen has been in difficulties since a restructuring deal with landlords in 2018 under which it agreed to close up to 17 sites after the casual dining market became oversaturated.

Gavin Maher, a partner at Deloitte who was appointed joint administrator on Wednesday, said: “The broader

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Ranjit Singh Boparan buys Gourmet Burger Kitchen in rescue deal | Business

Gourmet Burger Kitchen has been bought out of administration by the food industry tycoon Ranjit Singh Boparan in a deal that will save more than 660 jobs.

Boparan, who bought Carluccio’s in May, has bought 35 of the burger restaurant’s sites. However, under the pre-pack administration deal, 26 other sites will close, with the loss of 362 jobs.

The burger chain, which was owned by the South African company Famous Brands, which also owns Wimpy in the UK, was put on the market as it struggled amid the pandemic and high street lockdown.

But Gourmet Burger Kitchen has been in difficulties since a restructuring deal with landlords in 2018 under which it agreed to close up to 17 sites after the casual dining market became oversaturated.

Gavin Maher, a partner at Deloitte who was appointed joint administrator on Wednesday, said: “The broader challenges facing ‘bricks and mortar’ operators, combined with

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Rescue deal agreed for Gourmet Burger Kitchen restaurant chain

Hundreds of jobs have been saved after a rescue deal for Gourmet Burger Kitchen (GBK) was agreed, but a number of restaurants not part of the sale will close.

The burger chain has been saved as a going concern in a rescue deal funded by the Boparan Restaurant Group which owns casual dining brands such as Giraffe and Ed’s Easy Diner.

The acquisition includes a portfolio of 35 restaurants and safeguards 669 jobs. However, there will be 27 branches that will close and 362 redundancies.


GBK had been operating on a reduced basis following the Covid-19 lockdown. The hospitality industry had to shut sites in March and was only able to start reopening from July, with social distancing measures in place.

Disruption from the pandemic impacted the business’ liquidity, driving the need to find a funding or sale solution, according to Deloitte, which advised on the sale of GBK. GBK

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Prime Day Kitchen Essentials Deal: Save Up to 43%

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Trump adviser says state funding got in the way of stimulus deal

  • President Donald Trump told White House negotiators to table stimulus talks until after the election.
  • The acting director of the Domestic Policy Council, Brooke Rollins, told Insider in an exclusive interview that state funding was the biggest area of disagreement. 
  • “I think he just realized that it’s just so far apart, and ultimately to best serve the country it’s better to wait and revisit once we’re out of the political maelstrom,” she said. 
  • Visit Business Insider’s homepage for more stories.

 

A coronavirus stimulus deal between Democrats and the White House fell apart largely because the sides couldn’t agree about how much money to give budget-crunched states, according to one of President Donald Trump’s top advisers. 

“Where the Democrats came down was so far out of — no pun intended — out of left field in terms of the trillions of dollars that they wanted to bail out states and cities,”

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How the White House is trying to convince America that Trump’s illness isn’t a big deal

In case that point was somehow lost on observers, campaign aides like Jason Miller made it more explicitly.

The tacit message of the tweet: Even the virus can’t keep this guy down.

But Miller’s presentation of what’s shown is obviously questionable. For one thing, while he boasts that Trump didn’t need a teleprompter, the president can be seen looking down at the sheet of paper in front of him, almost certainly to consult notes about what he plans to say.

This is not a big deal, of course, and, technically, it doesn’t conflict with Miller’s representation that no teleprompter was used. But that Miller pointedly uses this as a point of contrast with former vice president Joe Biden, Trump’s opponent in the upcoming election, is ironic. After all, Trump’s campaign has repeatedly criticized Biden’s use of written notes or alleged that he was referring to notes as he gave public

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House leaves for October recess without reaching deal with White House on coronavirus bill

The House has adjourned for October recess so members may return to their districts to campaign ahead of Election Day, even though congressional Democrats have not reached a deal with White House officials for a coronavirus relief bill.

Pelosi said in a letter to her Democratic House colleagues on Friday afternoon that she and administration officials remained far apart on certain issues. Pelosi and Treasury Secretary Steven Mnuchin spoke several times this week to negotiate, and met in person at the Capitol on Tuesday.

“Our negotiations with the Administration continue, and I am hopeful that we can reach agreement. However, we still have significant disagreement in key areas,” Pelosi wrote. She said that she and administration officials differed on unemployment insurance benefits, schools, state and local funding, a child tax credit, testing and tracing, and appropriations.

“We are expecting a response from the White House on these areas and

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Pence tests negative as White House scrambles to deal with its coronavirus outbreak

Vice President Mike Pence tested negative for the coronavirus on Friday morning, his office announced. <span class="copyright">(Alex Brandon / Associated Press)</span>
Vice President Mike Pence tested negative for the coronavirus on Friday morning, his office announced. (Alex Brandon / Associated Press)

Vice President Mike Pence tested negative for the coronavirus on Friday morning, his office announced, suggesting that he might not have been infected by President Trump or others on the White House staff.

“As has been routine for months, Vice President Pence is tested for COVID-19 every day. This morning, Vice President Pence and the Second Lady tested negative for COVID-19,” tweeted Devin O’Malley, Pence’s press secretary. “Vice President Pence remains in good health and wishes the Trumps well in their recovery.”

Pence’s office did not immediately respond to questions about when he was last in contact with Trump, who announced his positive test results early Friday morning. But during a rally in Pennsylvania on Tuesday, Pence told the crowd that he had been in the Oval Office with the

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