GBK parent company, Famous Brands, has confirmed that the group will record an operating loss of £4.6m for the year to 28 February.
Famous Brands reported the loss, which builds on the £3.7m fall last year, in a trading update ahead of its full results at the end of the month.
The group, which also owns Wimpy in the UK, said its South African business would report an operating profit in line with expectations.
It had already reported an impairment of £46m recognised at GBK, coupled with one-off costs of just under £1m for the CVA.
There was no further trading update on GBK in the update published yesterday. Last month, Famous Brands reported that like-for-like sales in the 16 weeks to 24 February had grown 4%.