Burger King’s whopper deal to save itself

Calibre Partners’ Brendon Gibson says the wage subsidy saved Burger King. But several outlets still closed.

Tue, 15 Jun 2021

When Burger King went into receivership amid New Zealand’s first covid-19 lockdown, the pandemic took the initial blame.But the reality is receivers had already been talking with the company since late 2019, and owner Blackstone had been looking to sell.Calibre Partners’ Brendon Gibson, who worked with the fast-food chain to save the business through negotiating with Burger King NZ’s franchisor, banks, landlords and trade creditors, now says the business wouldn’t have survived if the country hadn’t been in lockdown...

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