Up to 1,000 jobs are at risk after Burger King franchisees, which run branches across the country including in Skegness, were forced to call in the administrators.
Two firms which run 36 Burger King outlets across the UK have entered administration putting the jobs at threat.
Nick Cropper, Ryan Grant and Catherine Williamson of business advisory firm AlixPartners were appointed joint administrators over Millcliffe Ltd and CPL Foods Ltd earlier this month.
It is understood administrators were appointed after the businesses experienced cash flow pressures, thought to be down to delays in developing and opening new stores.
At present all 36 branches are remaining open and trading while administrators examine “all possible options for a sale of all or parts of the business”.
They will also work closely with franchiser, Burger King Europe GmbH, in finding suitable interested parties.
The administrators said: “Our priority now is to work closely with the business and determine the optimum route forward for the companies as we continue to serve our valued guests throughout the UK.”
“We are confident that the companies are an attractive proposition for a range of potential buyers and, as such, we expect and welcome contact from interested third parties.”