Byron burger chain may close 20 restaurants
Hundreds of jobs are under threat at Byron after the stricken burger chain put 20 restaurants at risk of closure as part of a proposed restructuring package.
The burger chain is looking to agree a company voluntary arrangement (CVA) to help put it on firmer financial ground by securing hefty discounts on rental costs.
A CVA allows a business to close loss-making stores and was recently used by embattled toy retailer Toys R Us.
Accountancy giant KPMG, which is handling the process, said Byron's directors were using the move to secure the company's future amid "gathering economic headwinds".
However, it would need to win the backing of landlords and creditors before pushing forward with the process. The chain has 67 restaurants, but does not operate in Northern Ireland. Will Wright, restructuring partner at KPMG, said directors wanted to safeguard its long-term future.