JSE-listed Famous Brands says it is satisfied with the operational performance of the GBK Restaurant stores that are trading.
In an update to shareholders on August 13, it said 37 of the 62 GBK stores in the UK were open and offering delivery, collect and dine-in service.
It stated that customers had responded positively to the reopening of the restaurants within the government guidelines.
Further, the company reported that it had met its previously forecast revenue generation estimates for July, being 49% of that earned in July 2019.
Famous Brands previously indicated that it would not provide further financial assistance to GBK and the GBK board is reviewing the options available to the business, with deliberations still under way.
The GBK business remains focused on navigating its recovery from the impact of the Covid-19 pandemic on the economy and the industry.
This includes flexing the model to capitalise on opportunities to gain market share and leveraging GBK’s equity as the leading burger brand in the UK’s premium burger category.
“The board of GBK will continue to explore all options to ensure the long-term sustainability of the business in the wake of the severe impact of continued trading restrictions and the slow phased restart of the economy.”