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Retail

Burger King to wipe $133m debt for sale

Victoria Young
Thu, 01 Oct 2020

Victoria Young
Thu, 01 Oct 2020
The receiver for the group of companies associated with Burger King NZ says a deal for new ownership will be done by year’s end.However, documents lodged as part of a creditor compromise for Antares Restaurant Group – which owns and operates the burger brand – noted that, based on indicative bids received, "there is no prospect that the banks will be paid their secured debt in full."The group of companies were moved into receivership in April and $52 million is owing to the syndicate of ANZ, ASB and Rabobank.The trad...

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