GOURMET BURGER KITCHEN LIMITED
Company Information
- Company Number
- 03970045
- Registered Address
- C/O Teneo Financial Advisory Limited The Colmore Building, 20 Colmore Circus Queensway, Birmingham, B4 6AT
- Status
- Liquidation
- Employee Count
- 1,619
- Turnover
- £76,054,000
- EBITDA
- -£31,000
Additional Details
- Website
- https://gbk.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 11 April 2000
- Nature of Business
- 56101 - Licensed restaurants
- Industries
- Events And Venues, Food And Drink
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
Gourmet Burger Kitchen Limited has shown a consistent trend of paying invoices faster over the past three periods. The average time to pay has decreased from 38 days in Feb 2018 to 22 days in Aug 2018, and then slightly increased to 36 days in Feb 2019. However, this is still an improvement compared to the starting period.
Volatility Analysis
The volatility of Gourmet Burger Kitchen Limited's invoice payment has decreased over the past three periods. The % Invoices paid within 30 days has increased from 34% in Feb 2018 to 37% in Feb 2019, indicating a more stable and timely payment process.
Summary Analysis
In the past three periods, Gourmet Burger Kitchen Limited has shown a significant improvement in paying invoices within agreed terms. The average time to pay has decreased by 2 days, and the % Invoices paid within 30 days has increased by 3%. This shows a positive trend towards faster payment and better management of invoices.
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 25 Feb 2019 - 24 Aug 2019 | 20 Sept 2019 | 36 | 37% | 59% | 4% | 4% |
| 25 Aug 2018 - 24 Feb 2019 | 21 Mar 2019 | 22 | 70% | 26% | 4% | 4% |
| 26 Feb 2018 - 26 Aug 2018 | 14 Sept 2018 | 38 | 34% | 60% | 6% | 5% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Gourmet Burger Kitchen Limited ("GBK") has standard payment terms which dictate that payment is made no later than 30 days after the end of the month in which GBK receive the supplier's invoice. Due to the standard payment terms that GBK has with its suppliers of "month end plus 30 days", the standard payment period days ranges from 31 - 61 days. However, based on actual payment dates in the period GBK has an average payment period of 36 days.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
61
Dispute Resolution Process
Any discrepancies or disputes are highlighted through internal processes and periodically reviewed with suppliers. All invoices received by GBK must be approved by the relevant department. As part of this process, any invoices which are being queried/are under dispute will be put on hold and only be paid once the query/dispute has been resolved. All disputed invoices will be managed by the relevant department (i.e. marketing, HR) and this process will be overseen/followed up by the account department to ensure that invoice disputes are being resolved in a timely manner. All invoices should be sent to accountspayable@gbk.co.uk, with the exception of property related invoices. Any invoices in relation to property should be sent to gbkpropertyinvoices@gbkrestaurants.com. Physical invoices should be sent to: Gourmet Burger Kitchen, Suite C 1, Lindsey Street, London, EC1A 9HP.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
Gourmet Burger Kitchen Limited is a British restaurant chain that specializes in gourmet burgers. The company was founded in 2001 and currently has over 80 locations across the UK.
Sustainability is a key focus for Gourmet Burger Kitchen, as they strive to source their ingredients from sustainable and ethical sources. They also have initiatives in place to reduce their carbon footprint and minimize food waste.
The company's menu offers a variety of burgers made with high-quality ingredients, such as 100% grass-fed beef, free-range chicken, and vegetarian options. They also offer sides, salads, milkshakes, and a selection of craft beers and wines.
The key people behind Gourmet Burger Kitchen include the CEO, Alasdair Murdoch, and the Executive Chef, Dipna Anand. Together, they work to continuously improve the menu, service, and sustainability efforts of the company.
The contact information for Gourmet Burger Kitchen includes their website, www.gbk.co.uk, where customers can find information about their menu, locations, and sustainability program. The registered office address is 5-7 Marshalsea Road, London, SE1 1EP, United Kingdom. Overall, Gourmet Burger Kitchen offers delicious burgers while also prioritizing sustainability, making it a popular choice for British diners.
