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 BFG - Burger Fuel Group
https://www.stuff.co.nz/business/ind...n-receivership
"Coronavirus: Burger King NZ owners in receivership, hopes of sale
The group that owns the franchise operator of Burger King restaurants has been placed in receivership by its financiers.
The New Zealand Burger King restaurants had taken a significant hit during the coronavirus lockdown, said Brendon Gibson of KordaMentha, who along with Grant Graham was appointed receiver on Tuesday.
The aim was to get the business restarted post-lockdown, and then sell it..."
more at linked article
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From the Article linked above:
"A trigger for the receivership was the company's level of debt once the cashflow was turned off, Gibson said.
"The [banks] are supporting this process in terms of continuing to provide facilities to the business to allow it to restart.
"It's been a pretty tight timeframe - this all blew up only two-and-a-half weeks ago."
Antares was bought in 2011 by United States private equity firm Blackstone Group, which manages over US$500 billion worth of assets."
Could this be yet another Private Equity structured disaster playing out - with the standard 'leverage the job up with
hefty borrowings to facilitate sucking out the maximum Ca$h" type of job, as seen elsewhere ?
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Member
Confused why the title of the thread says burgerfuel but thread content pertains to burgerking.
they are two very seperate thing.
i love a good burgerfuel visit but do not patron burgerking so will not miss it.
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What has happened to Burger King will likely significantly affect all similarly operating businesses here & overseas where lock downs
are in place - RBD, BFG etc
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Takeaway businesses in Australia are allowed to continue operating .. meanwhile in NZ ....
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 Originally Posted by nztx
Takeaway businesses in Australia are allowed to continue operating .. meanwhile in NZ ....
At least get Uber Eats and Easi back up and running!
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Originally Posted by Sideshow Bob
Apologies - I did look & also search for an existing thread under BFG & Company name in two words, but nothing came up.. before starting this one
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Unusual activity in BFG yesterday - large volume causing a significant price spike.
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Originally Posted by LaserEyeKiwi
Unusual activity in BFG yesterday - large volume causing a significant price spike.
What was the volume ?
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