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Begbies Traynor has been appointed as administrators to Frost Burgers, the vegan burger restaurant in Manchester and Liverpool.
Founded in 2018, by social media influencer Monami Frost, the vegan burger chain offered an 100% plant-based menu, serving burgers, fries and milkshakes.
Paul Stanley and Jason Greenhalgh from Begbies Traynor were appointed as Joint Administrators of Frost Burgers Limited on 7 October 2022, after the vegan restaurant chain ceased trading last month.
Frost Burgers gained an “avid” fan base, reaching over 64,000 followers on Instagram and last year the business achieved £515,811 in turnover.
Begbies Traynor added it is now looking for someone to buy the leases and the assets including ready-made commercial kitchens.
Stanley, North-West regional managing partner at Begbies Traynor, said: “Despite gaining an excellent reputation, Frost Burgers has become just one of the many businesses within the hospitality sector that have experienced financial distress. Restaurants in particular, are struggling to afford raw ingredients and many are struggling with their energy bills.
“The hospitality sector is also taking a huge hit from labour shortages as well as debts accrued over lockdowns, including bounce back loans. It is likely that more restaurants will find themselves in a similar position as we progress towards the end of 2022.”
