# PL 1 Realisations (2020) Limited (03970045)

> Why UK company 03970045 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03970045

- **Status:** Administration ended
- **Administration began:** 2020-10-14
- **Administrators' firm:** Deloitte
- **Formerly:** Gourmet Burger Kitchen Limited; Wisconsin UK Limited
- **Incorporated:** 2000-04-11
- **Location:** Birmingham
- **Industry:** 56101 Licenced restaurants

## Why it went into administration

- Property / lease costs
- COVID-19
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Competition / price pressure

## From the administrators' statement

The Group operated in the fast casual food service market of which burger restaurants account for £5.2bn (6.8%) of the £76.8bn total UK foodservice market.

Historically, the foodservice market has faced challenges due to oversaturation through aggressive competitor expansion, rapidly changing consumer tastes (e.g. healthy eating), heavy promotional activity across the sector, increased importance of digital technology, above inflationary increases in National Minimum Wage and continuing burden of over rented sites and onerous business rates.

GBK entered into a CVA on 9 November 2018, through which it had achieved a number of efficiencies including

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03970045/filing-history/MzI4NTQzMDE4MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03970045

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.