Overview
- Five Guys Germany posted a 2023 loss exceeding €7.5 million, taking cumulative losses since 2017 to more than €60 million and leaving the unit balance‑sheet overindebted.
- Deloitte cited a material uncertainty over the subsidiary’s ability to continue as a going concern, and management itself warned of an existence‑threatening situation.
- The European parent, owned by Freston Ventures, has pledged to finance the German business so it can meet obligations through the end of 2026, with insolvency risk if that support stops.
- Despite persistent losses, the chain expanded to roughly 35 German outlets since 2017, and a leadership change in April 2025 put Kaiss El Madi in charge of the market.
- Sky News reports the owner is seeking investors or a buyer for stakes in Five Guys Europe, while the German unit says it remains committed to the market and plans further openings.