Burger Burger needs $1m of capital to rejuvenate the brand: Administrator Gareth Hoole
The gourmet burger chain Burger Burger is seeking a $1 million capital injection to rejuvenate its operations after entering voluntary administration. Despite stable revenue, the company has struggled with rising costs and operating losses.
Why it matters
The situation illustrates the broader economic challenges facing the hospitality sector, where high operational costs can undermine even well-recognized brands.
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The voluntary administrator is seeking a buyer for the gourmet burger chain Burger Burger. Photo / Babiche Martens
An Auckland insolvency practitioner in charge of the trading arm of the gourmet six-store North Island Burger Burger chain says it needs a capital injection of about $1 million.
Gareth Hoole, of Ecovis KGA, is voluntary administrator of BurgerBurger Ltd and BurgerBurger IP, appointed by director Marina (Mimi Gilmour) Buckley.
“There is good brand loyalty and recognition,” said Hoole, who is trying to sell the business, which continues to trade at five of its six outlets.
The chain has stores in Ponsonby, Commercial Bay, Torbay, Takapuna (currently closed and being refitted), Hamilton and Tauranga.
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