The Belgian restaurant chain EXKi is facing bankruptcy. The chain has been struggling financially since 2017 and is now in need of at least €10 million in emergency investments.
EXKi CEO Stan Monheim shared the company’s dire situation in an interview with the Belgian news site “La Libre”.
In 2023, the company made a deficit of €1.8 million, compared to a deficit of €8.3 million in 2022-2023. The company is therefore heading in the right direction, but it is still a long way from turning a profit, according to the CEO.
The first EXKi restaurant opened in Brussels in 2001. The concept was quickly developed into a restaurant chain, with the first location opening in Turin in 2004. Two years later, the company expanded into the French market, and it was not long before the first branch was opened in Luxembourg as well.
By 2012, there were around 70 restaurants spread across Belgium, France, Italy, the Netherlands, and Luxembourg. Additional locations were later opened in Germany and Spain.
There is a demand for serving fresh and healthy products in a fast-food-style restaurant, says CEO Stan Monheim, adding that this is also evident from the restaurants located at airports and railway stations. According to Monheim, margins and productivity are increasing, but the company needs further investments to stay afloat.
The company has already secured investments of €5 million but needs another €10 million. Otherwise, the restaurant chain will face bankruptcy, Monheim said.
EXKi has four restaurants in Luxembourg.
