Burger chain Byron last week launched plans for a company voluntary arrangement in order to slash rent terms. The business was bought in 2013 by Hutton Collins in a deal worth £100m while a string of casual dining names including Côte, Prezzo, Strada and Ask were all gobbled up in a debt-fuelled acquisition frenzy.
George Mills, part of the restructuring team at accountancy giant EY, said it had put more resources into covering the restaurant sector in recent months.
We have focused on it because it is an area we think will be under a lot of pressure for obvious reasons, he said.
The reduction in consumer spending and uncertainty ahead of Brexit means it is definitely on the radar of my team and others in the industry.
Read the full article at: http://www.telegraph.co.uk/business/2018/01/14/restaurants-could-follow-byron-restructuring-experts-circle/