Trouble burger restaurant chain Byron has announced a financial rescue plan that could close up to 20 shops a decade after it first opened its doors.
The company has launched a restructuring process known as a company voluntary arrangement (CVA) as it tries to lower its rental bill and focus on a smaller number of profitable restaurants.
Byron runs 67 restaurants and employs about 1,800 people across the UK. The company has identified 20 sites where it will pay reduced rent for a period of six months while it negotiates with landlords about future operations. Some are expected to close as a result.
Simon Cope, the Byron chief executive, said: Byrons core restaurant business and brand remain strong but the market that we operate in h…
Read the full article at: https://www.theguardian.com/business/2018/jan/09/byron-burger-chain-close-branches-restaurants