Fritz Nols AG: Fritz Nols AG is mandated to restructure Burger King Germany

Burger King GmbH starts its turnaround process and took company out of liquidation process.

Berlin (pta027/29.01.2015/17:00 UTC+1) In November 2014 Burger King GmbH had its operational license stopped for all of its 89 outlets due to problems that were discovered in outlets. Such problems were brought in by previous operator who since that was bought out by its financial investor, Alexander Kolobov, who until recently was in passive role of investor and had to take an active stance after such events occurred.
Alexander is one of the biggest private restaurant operators in Europe, who managed to develop a chain of over 600 coffee shops in Russia in the course of 10 years and also build a Burger King chain in Russia with 300 outlets in the course of last 4 years.
Mr. Kolobov had to completely buy-out previous operator (in November 2014) and since then took an active role in bringing together a team to carry out a turnaround of Burger King GmbH and securing a financing package to rescue his operation in Germany.
The Fritz Nols turnaround/restructuring team was brought in, headed by Ingo Voigt, who became company's new Management Director. This team was recently involved in restructuring of Fisker Automotive to overtake the company. The same team restructured successfully Bruno Magli S.p.A. Bologna. On January 8th, 2015 Bruno Magli SpA sold its trademark to Marquee Brands, seeded by Neuberger Berman for 28.5 million Euros. The Fritz Nols AG owns seven hundred thousand shares of Da Vinci Luxury AG, which owns 100% of Bruno Magli SpA. Fritz Nols and their corporate angels are specialized in resctructuring / turnaround management and gets involved in distressed and special situations.
In addition, Mr. Kolobov secured a EUR 15 million financing package to restore Burger King Gmbh liquidity position in order to repay creditors and employees for debts which were incurred due to force closure of all restaurants back in November 2014. Those events eventually lead the company to file for bankruptcy on 5 December 2014.
New action plan for the company will be to repay all outstanding debts to creditors and employee. Most importantly in order to restore customer confidence, new team will be working closely with Burger King [Germany /Global] and seeking advice/assistance from Burger King [Global] to implement best standards for this trade in Germany.

(end)

Emitter:	Fritz Nols AG Marburgerstr. 1 10789 Berlin Germany
Contact Person:	Hendrik Klein
Phone:	+49 30 2100 365 40
E-Mail:	hk@fritznols.com
Website:	www.fritznols.com
ISIN(s):	DE0005070908 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Stuttgart