Branded franchised and food services business Famous Brands has renewed its cautionary statement in respect of GBK Restaurants and its ceasing of providing any further financial assistance to GBK.
On May 20, the board of directors of Famous Brands took the decision to stop providing financial assistance to GBK, stating that doing so may result in an impairment of the full value of Famous Brands’ investment in GBK, the precise valuation of which impairment would be determined in due course.