Burger chain Byron closes nine sites, losing more than 200 jobs
The owner of high-end burger chain Byron has called in administrators for the second time in less than three years, with nearly half of the 21-site chain closing immediately with the loss of more than 200 jobs.
Directors of Famously Proper, which also owns takeout brand Mother Clucker, said 12 branches were saved and 365 jobs saved under a deal pre-agreed bailout with Tristar Foods. Both companies have the same owner, private equity firm Calveton.
However, nine sites, including in Leeds, Manchester, Milton Keynes and the Bluewater shopping center in the Kent, are to close immediately with the loss of 218 jobs.
Claire Winder and Chris Pole, the co-administrators of Interpath Advisory who were appointed on Friday, said Famously Proper had faced "significant trading challenges, driven by rising costs, primarily food and utilities, as well as reduced customer spending due to the current cost of living crisis."
Winder said: "Like many other companies in the hospitality industry, Byron has va reported an increase in trading after the end of the Covid lockdown measures. However, the skyrocketing inflation seen in 2022 has caused costs to spiral and reduced customer spending, which has put significant pressure on the company's cash flow.
"We are delighted to have completed this transaction which will see the Bryon name continue to sell on the country's high streets and most importantly, has preserved a significant number of jobs.
The latest closures come after a turbulent history for Byron, who took office in June 2020 at the height of the pandemic with the closure of around 30 sites.
Founded by Tom Byng in 2007, the group once had almost 70 outlets, but closed around 20 in 2018 when it came under fire. an insolvency proceeding known as the company's voluntary arrangement.
The group's latest troubles come as the hospitality industry grapples with the rising costs and slowing sales as high inflation hits both consumers and businesses.
Trade in bars, pubs and restaurants has been further affected by a series of strikes which may have cost the industry at least £1.5 billion in December alone.
Many independent operators have already been forced to close Upscale chain D&D London closed four outlets in recent weeks, while small juice bar brand Crussh was rescued from administration earlier this week.
The owner of high-end burger chain Byron has called in administrators for the second time in less than three years, with nearly half of the 21-site chain closing immediately with the loss of more than 200 jobs.
Directors of Famously Proper, which also owns takeout brand Mother Clucker, said 12 branches were saved and 365 jobs saved under a deal pre-agreed bailout with Tristar Foods. Both companies have the same owner, private equity firm Calveton.
However, nine sites, including in Leeds, Manchester, Milton Keynes and the Bluewater shopping center in the Kent, are to close immediately with the loss of 218 jobs.
Claire Winder and Chris Pole, the co-administrators of Interpath Advisory who were appointed on Friday, said Famously Proper had faced "significant trading challenges, driven by rising costs, primarily food and utilities, as well as reduced customer spending due to the current cost of living crisis."
Winder said: "Like many other companies in the hospitality industry, Byron has va reported an increase in trading after the end of the Covid lockdown measures. However, the skyrocketing inflation seen in 2022 has caused costs to spiral and reduced customer spending, which has put significant pressure on the company's cash flow.
"We are delighted to have completed this transaction which will see the Bryon name continue to sell on the country's high streets and most importantly, has preserved a significant number of jobs.
The latest closures come after a turbulent history for Byron, who took office in June 2020 at the height of the pandemic with the closure of around 30 sites.
Founded by Tom Byng in 2007, the group once had almost 70 outlets, but closed around 20 in 2018 when it came under fire. an insolvency proceeding known as the company's voluntary arrangement.
The group's latest troubles come as the hospitality industry grapples with the rising costs and slowing sales as high inflation hits both consumers and businesses.
Trade in bars, pubs and restaurants has been further affected by a series of strikes which may have cost the industry at least £1.5 billion in December alone.
Many independent operators have already been forced to close Upscale chain D&D London closed four outlets in recent weeks, while small juice bar brand Crussh was rescued from administration earlier this week.
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