Clapham House Group plans to take advantage of the weakening property market over the next 12 months by growing its Gourmet Burger Kitchen (GBK) chain.
The company, which also operates The Real Greek and Tootsies chains, said that it plans to continue its focus on the growth of GBK both in the UK and under franchise internationally.
Clapham House said GBK has continued to deliver good sales performances despite the weakening economy and said it remained confident of its significant roll out potential to at least 150 restaurants across the UK.
“We are witnessing a correction in UK property valuations as landlords have begun to adjust their rental expectations for new properties and leases,” the group said in a trading statement today.
“We expect this realignment to accelerate over the next 12 months and will plan our expansion to take best advantage of this.”
Clapham House Group was reported to have entered into exclusive talks with a potential buyer of its 22 Tootsies restaurants earlier this month, although the company has not made an official comment yet.
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By Kerstin Kühn
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