Receivers propose five Burger King outlet closures

Receivers propose five Burger King outlet closures
Victoria Young
Burger King’s receivers are proposing five loss-making outlets be shut permanently as they prepare the business for sale. And, according to the creditors' compromise proposal, suppliers and landlords will get more money if the business is sold for more than $30 million. The burger chain’s New Zealand franchise was bought by private equity firm Blackstone for $107 million back in 2011 through holding company Tango New Zealand. The company was moved into receivership on April 14, and its owners said they wouldn’t put any more money into...

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