Grand Parade to roll out more Burger King outlets to boost revenues

SOUTH AFRICA – Grand Parade Investment (GPI), the South Africa franchise operator of the Burger King has unveiled plans of opening 15 new Burger King outlets a year over the next three years across the country as it seeks to grow its revenues. According to a report by Business Report, GPI revealed that the expansion programme would be focused on drive-thru restaurants as opposed to online and/or food court restaurants. “The future expansion of Burger King will further improve bottom line profitability and allow volume discounts to be passed to…

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South Africa’s Grand Parade exits Dunkin Donuts and Baskin Robins brands

SOUTH AFRICA – Grand Parade Investments (GPI), the Southern African franchise owner of US fast food chains Dunkin’ Donuts and Baskin-Robbins, announced the closure of the two brands operated outlets after the businesses continued to record poor performance. The group said it filed an application for voluntary liquidation of the two US chains after failing to sell them. Mohsin Tajbhai, acting Chief Executive Officer at GPI, said that both fast food chains had continued to record underperformance whose effect had spilled over into the group’s cash resources. “Since June 2018…

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South Africa’s Grand Parade pay policy rejected by investors

SOUTH AFRICA – South Africa’s Grand Parade Investment (GPI), which represents Burger King saw its pay policy rejected after 60.6% votes cast by investors went against the remuneration policy,reports Business Day. “I think shareholders know that fundamentally Grand Parade has not performed for at least three years, so why should the revolving door of management get performance bonuses and pay increases?” said independent analyst Anthony Clark. This comes after yet another defeat to Spur Corporation, which count grand parade as a major investor after shareholders cast a 79.45 vote-down to…

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GPI reduces part of 18.5% stake in Spur to focus on Burger King franchise

SOUTH AFRICA – The food and gaming firm, Grand Parade Investments (GPI) is reducing part of 18.5% stake it holds in the steakhouse restaurant chain Spur Corporation as it shifts focus to its global hamburger franchise, Burger King SA. According to the Business Report, the sudden move to focus on the Florida-based chain of fast food restaurants was because the franchise had shown positive results and great potential over the past year. Grand Parade Investments (GPI) which owns majority of the franchise agreement for Burger King SA said the decision…

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