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Cyprus | Posted:

Burger King to stay

Burger King recently closed all of its stores in Cyprus, but reports indicate that the known international restaurant chain wants somehow to stay on the island.

The collaboration with King Franchises Ltd, a subsidiary of the Laser investment Group Investment did not proof to be harmonious and is finding its way to the courts, but reports indicate that Burger King wants to remain in Cyprus and is looking for a suitable partner.

Recently, King Franchises Ltd, closed all its stores around the island-wide and also proceeded with legal action against Burger King Europe, seeking more than € 6 million for actual damages, plus additional lost earnings. The international chain has not stood idly of course, moving itself in legal action against King Franchises.

Laser Investments stated that the company had suffered additional losses of € 4.558.814. In terms of its consolidated accounts, the Group reported that it had suffered further losses of € 2.211.300, which is related to the goodwill on the acquisition of Burger King and other intangible assets.

Burger King is currently operating in the Larnaca International Airport and under the management of SSP EEME.