The companies which own and operate Caerphilly town’s Burger King restaurant have gone into administration.
Nick Cropper, Ryan Grant, and Catherine Williamson of global business-advisory firm AlixPartners Services have been appointed joint administrators over Millcliffe Limited and CPL Foods Limited.
The companies run a total of 36 franchised Burger King stores throughout the UK and employ 1,000 people across its network. Five of those branches are in Wales with outlets in Carmarthen, Llanelli, Port Talbot, and Bangor as well as Caerphilly.
Administrators were appointed earlier this month as a result of the companies experiencing cash flow pressure, primarily due to delays in developing and opening new stores.
The fast food branches are still open and trading while administrators explore “all possible options for a sale of all or parts of the business” and are working with Burger King in finding interested parties.
In a statement the administrators said: “Our priority now is to work closely with the business and determine the optimum route forward for the companies as we continue to serve our valued guests throughout the UK.
“We are confident that the companies are an attractive proposition for a range of potential buyers and, as such, we expect and welcome contact from interested third parties.”
Burger King has been asked for comment.
The 48-seat Caerphilly outlet in the town’s Castle Court Shopping Centre opened in February last year with around 30 staff.