deal

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 challenges facing ‘bricks and mortar’ operators, combined with the effect of the lockdown, resulted in a deterioration in financial performance and a material funding requirement.

“We have been working closely with the management team under very difficult market conditions to try and find a funding solution, and I am glad to be able to announce the rescue of this well-loved brand together with a large proportion of the sites and workforce. However, it’s clearly disappointing that a number of sites have had to close resulting in today’s redundancies.”



a sign hanging off the side of a building: A Gourmet Burger Kitchen restaurant in Bracknell.


© Photograph: Maureen McLean/REX/Shutterstock
A Gourmet Burger Kitchen restaurant in Bracknell.

Labelled the “chicken king” as he is the co-owner and founder of 2 Sisters Food Group, which supplies about a third of the chicken on UK supermarket shelves, Boparan’s business interests includes turkey producer Bernard Matthews, the upmarket London restaurant The Cinnamon Club restaurant, as well as the Giraffe and Ed’s

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 the effect of the lockdown, resulted in a deterioration in financial performance and a material funding requirement.

“We have been working closely with the management team under very difficult market conditions to try and find a funding solution, and I am glad to be able to announce the rescue of this well-loved brand together with a large proportion of the sites and workforce. However, it’s clearly disappointing that a number of sites have had to close resulting in today’s redundancies.”

Labelled the “chicken king” as he is the co-owner and founder of 2 Sisters Food Group, which supplies about a third of the chicken on UK supermarket shelves, Boparan’s business interests includes turkey producer Bernard Matthews, the upmarket London restaurant The Cinnamon Club restaurant, as well as the Giraffe and Ed’s Easy Diner chains.

Satnam Leihal, the managing director of Boparan Restaurant Group, said: “This latest acquisition is in line

Prime Day 2020 Deal: AeroGarden products up to 40% off at Best Buy

When you buy through our links, we may earn money from our affiliate partners. Learn more.

AeroGarden Harvest Grey



Amazon


Winter is fast approaching, but an AeroGarden makes it easy to take your garden indoors. Select models are currently up to 40% off at Best Buy as part of their early Black Friday sale, a two-day event happening right now in tandem with Amazon Prime Day 2020.

AeroGarden’s Bounty is now only $249.99, a savings of $150 from its usual price of $399.99. It holds up to nine of your favorite crops with dimmable lights to mimic sunrise and sunset for natural growth, while vacation mode keeps plants healthy when you’re away from home.

Or, grow 12 plants of up to three feet in height with the AeroGarden Farm 12XL for just $419.99. Typically priced at $699.99, that’s 40% off for fresh produce all year long.

To use an Aerogarden, you simply pop in the seed pods and watch them sprout. A simple control panel reminds you when to add water and plant food, and the gardens are Wi-Fi enabled and Alexa-compatible, so no green thumb is required.

For more information on Best Buy deals, follow our coverage here. These deals will run parallel to Amazon Prime Day and shoppers will likely see a lot of comparable bargains and some overlap between the two. However, unlike Amazon, Best Buy is also offering curbside or store pickup and in-store shopping on their deals.

 

Subscribe to our newsletter.

You can purchase syndication rights to this story here.

Disclosure: This post is brought to you by the Insider Reviews team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from

Prime Day Kitchen Essentials Deal: Save Up to 43%

Source Article

Prime Day Furniture Deals 2020: Top Early Sofa, Desk, Rug, Office Chair & Garden Patio Furniture Sales Tracked by Deal Stripe

BOSTON–(BUSINESS WIRE)–Here’s a guide to all the latest early furniture deals for Amazon Prime Day 2020, featuring all the latest discounts on Devoko patio dining sets, nuLOOm rugs, Amazon desks and couches, Bush office furniture, & Herman Miller office chairs. Explore the best deals using the links below.

Best sofa deals:

Best desk deals:

Best office chair deals:

Best rug deals:

Best patio furniture & hot tub deals:

Best TV stand deals:

Best coffee table deals:

Best kitchen & dining deals:

  • Save 45% on the Winsome Wood Nolan Occasional Table at Amazon – clean, traditional lines make the Nolan Coffee table a great fit for any décor and home
  • Save 41% on the WE Furniture Company Modern Farmhouse Buffet Sideboard at Amazon – rustic, modern farmhouse design style for a charming country feel
  • Save $353 on the Crosley Furniture Shelby 7-Piece Dining Set at Amazon – crafted with solid hardwood and wood veneers, with table, extension leaf, and 6 chairs
  • Save $197 on the Linon Ardmore Kitchen Nook Set at Amazon – 5-piece kitchen nook set for casual daily dining, includes table, side bench, and 3-section corner unit
  • Save $180 on the WE 6 Person Rustic Farmhouse Wood and Metal Room Kitchen Table Set at Amazon – made with solid pine wood, distressed table top and painted legs
  • Save 41% on the Christopher Knight Home Phinnaeus Fabric Dining Chairs at Amazon – (2) dining chairs, distressed wood with soft edges along the chair
  • Save 58% on the Safavieh American Homes Collection Burris Country Farmhouse Spindle Side Chair at Amazon – crafted of sustainable rubber wood, this set of two brings comfort and style to the table

Best bedroom furniture deals:

  • Save $342 on the Linon Silver Harper Vanity Set at Amazon – decorative curvy front legs, mirrored front