Peterborough restaurant closes as chain goes into administration
A Peterborough city centre gourmet burger restaurant closed suddenly today after the parent company ceased trading.
Doors remained shut at the Westgate Arcade-based Handmade Burger Co after the chain collapsed into administration for the second time in three years.
The Peterborough restaurant - which opened in the Old Still pub in 2015 - survived in 2017 when the company previously fell into administration resulting in the closure of nine restaurants, and a buyer was found allowing the firm to continue to trade.
This time, however, all 18 remaining restaurants have closed, with the loss of 283 jobs.
Leonard Curtis was appointed as administrator of The Burger Chain Limited this morning, after attempts to secure a sale of the business were unsuccessful.
Joint administrator David Griffiths said: “The casual dining market in the UK has experienced significant challenges over the last four years, largely as a result of overcapacity in the sector, which has resulted in a significant number of insolvencies.
“Sales at Handmade Burger Co. restaurants have almost halved during this period, which has proved to be unsustainable.
“It is disappointing that circumstances have meant that a sale of the business has no been possible in this case, but our focus now should be on those employees affected by this difficult news.
“We will work hard to provide them with necessary assistance to claim for monies which remain due to them.”