Byron, one of the UK’s best-known burger restaurant chains, is to be flipped to a new owner two-and-a-half years after a brush with insolvency.
Sources said that the owners of Byron, which now trades from just over 20 restaurants, had hired Interpath Advisory to find new investors.
The process comes at an inopportune time for casual dining chains, with the UK economy sliding toward recession and businesses hampered by soaring energy costs.
The search for new owners has been initiated by Calveton, an investment firm that took control of Byron in 2020.
One option is likely to be another pre-pack administration for Byron, where a buyer is lined up to acquire its assets without its liabilities, although insiders insisted on Friday that speculation about such an outcome was premature.
Its last restructuring resulted in the closures of dozens of restaurants and hundreds of job losses.