Restaurant staff in Peterborough face uncertain future after business plunges into crisis
Staff at a restaurant in Peterborough are facing an uncertain future after the business went into administration.
Administrators are battling to save the Handmade Burger Company, which had 29 outlets including one in the Westgate Arcade, in Queensgate shopping centre, Peterborough.
Nine of the restaurants were closed immediately following the appointment of joint administrators Leonard Curtis Recovery.
The Peterborough branch, which opened in the former premises of the Old Still pub in April 2015, has been kept open while talks take place to rescue the company.
Joint Administrator Julien Irving said: “We are monitoring trade closely and looking to get a Company Voluntary Arrangement (CVA) in place which we consider to be the best outcome for all parties.
“If the proposal has the support of the creditors, then a CVA may allow the business to continue.
“We are working hard to seek approval from the companies’ creditors to secure this.
“If, however, this is not possible, then as Joint Administrators we will seek a buyer for the business.”
A CVA is an agreement with creditors about the repayment of the company’s debt over a specified period of time.
The closure of the nine restaurants has meant the loss of 163 jobs out of a total workforce of 700 people.