Started London by Tom Byng, Byron Hamburgers Limited is a British restaurant chain with a primary focus on burgers.
The company changed hands several times; first starting with Tom Byng in 2007, who had the idea to start Byron while living in New York City.
It was then owned by Gondola Group (owners of Zizzi and ASK Italian). Gondola Group then sold the chain to Hutton Collins Partners in 2013 for £100 million, before Hutton sold it to the current owner, Three Hills Capital Partners.
The company now has 52 chain restaurants with more than 1,200 staff throughout the UK.
Is Byron closing its burger restaurants?
Accountants and administrators, KPMG, have been trying to sell Byron since early May.
According to BBC’s sources, the burger chain is seeking a buyout and is currently in talks with interested parties. Some are interested only in parts of the business, while others in the whole chain.
It’s thought that Byron is in the pre-administration phase and is on the brink of collapse – with administrators lined up and ready.
Byron isn’t in a unique situation. The burger chain is amongst many other hospitality businesses which have struggled financially through the pandemic.
KPMG is set to deal with the administration when/if the business officially enters the administration process. KPMG is also the administrator of Intu, which is a co-owner of recently-collapsed The Mall at Cribbs Causeway.
If the business goes into administration, it’s mass job losses are expected to follow.
Why is Byron struggling?
Byron hasn’t been financially sound for a few years now, and the current pandemic hasn’t helped.
Although many restaurants have been taking advantage of delivery services such as Deliveroo, consumer confidence has been significantly lacking.
A mix of furloughed staff, cut back hours and high overheads all lead to financial struggles.
Byron used to have a branch in Bristol, but it closed in 2018 as part of a Company’s Voluntary Arrangement restructuring which saw 10 closures to help the burger chain survive.
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