Cheesecake Factory Braintree: $7M sale, $8M acquisition

BRITAIN’S Cheesecakes Factory Bratton is to close its doors.

The UK-based chocolate chain, which has more than a hundred outlets across the country, will close its remaining three outlets in London and the east Midlands in 2019.

“The business has faced significant headwinds in recent years, particularly as consumer demand for chocolate continues to expand,” Cheeseburger Group said in a statement.

“We remain committed to serving our customers in the UK and across Europe.

Cheeseparks closure means that we can focus on building a stronger business.”

The UK’s chocolate sector has been hit by a spate of recent closures, including a loss of more than one-third of its businesses to the cocoa trade, a decline in sales of chocolate bars and a sharp drop in sales for other premium brands.

It also suffered a significant drop in the quality of its cocoa beans due to a lack of regulatory oversight.

The company said it was in talks with other chocolate manufacturers about possible investment in its UK business.

“This is an exciting time for Cheesemakers and for the industry in general,” Cheesehead chief executive and chairman Mark Taylor said in the statement.

The Cheesemaker Group will be spun off from the Cheeseweburger group, which operates over 150 outlets in Britain, the US and Europe.

The closure will be announced on Thursday by Cheesemeakers chief executive Mike Cairns.

Cheers Factory and Cheeseminaries parent company, which owns Cheesenots Cheeses and Cheesy Pancakes, said it would “accelerate plans to restructure”.