Photo: Stephen JaquieryThe parent company of Burger King in New Zealand has been placed into receivership. Burger King restaurants have been closed as part of the level four lockdown in response to the Covid-19 pandemic. The Burger King shareholding companies in receivership are Tango Finance Limited, Tango New Zealand Limited and Antares New Zealand Holdings Limited. In a letter addressed to staff, Burger King chief executive Michelle Alexander said that inability to earn revenue had created significant financial challenges for the company. In this context, she said that the Burger King shareholders had decided not to put any additional equity into the business.

Source: Otago Daily Times April 14, 2020 00:11 UTC