Two companies that run 36 Burger King outlets across the UK have entered into administration.
Insider Media has reported that Nick Cropper, Ryan Grant and Catherine Williamson of business advisory firm AlixPartners were appointed joint administrators over Millcliffe and CPL Foods on 7 April.
The administrators were appointed after the businesses experienced cash flow pressure, primarily due to delays in developing and opening new stores. All the outlets will continue to trade while the administrators explore “all possible options for a sale of all or parts of the business”.
AlixPartners also said it would work closely with the franchisor, Burger King Europe, in finding suitable interested parties.
Cropper said: “Our priority now is to work closely with the business and determine the optimum route forward for the companies as we continue to serve our valued guests throughout the UK. We are confident the companies are an attractive proposition for a range of potential buyers and, as such, we expect and welcome contact from interested third parties.”