Vegan burger business, Frost Burgers, enters administration
A North West vegan burger restaurant business, with operations in both Manchester and Liverpool, has entered into administration.
Frost Burgers was founded in 2018 by social media influencer Monami Frost.
It offered a 100% plant-based menu, serving burgers, fries and milkshakes.
It gained an avid fan base, reaching more than 64,000 followers on Instagram, and was voted in the top 50 burger places in the UK by Big 7 Travel and also received the top-rated award from Happy Cow, an online review service for vegan, vegetarian and healthy food.
During trading, Frost Burgers received rave reviews from fans who deemed the food to be highly convincing and claimed that it tasted exactly like real meat. Last year, its turnover was £515,811.
However, in July this year, the company announced that it was to close its Manchester site, followed in August by news that the Liverpool shop would close, both having been affected by the rising cost of living crisis.
Paul Stanley and Jason Greenhalgh, of Begbies Traynor, were appointed as joint administrators on October 7, 2022, after the vegan restaurant chain ceased trading last month.
Begbies Traynor is now looking for someone to buy the leases and the assets including ready-made commercial kitchens.
Paul 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.”
He added: “It is likely that more restaurants will find themselves in a similar position as we progress towards the end of 2022.”
According to the latest Red Flag Alert data produced by Begbies Traynor, almost 2,000 bars and restaurants (1,961) in the North West region are operating under significant financial distress.
