Upmarket burger chain Byron has reportedly been sold in a pre-pack administration deal that will result in 51 store closures.
The chain has been sold to Calveton, a private investment vehicle, according to Sky News, with more than half of its outlets to close permanently.
Around half of its 1,200 workforce are also believed to be at risk. The company first announced it was edging towards administration in June, after becoming the latest restaurant to be hit hard by the coronavirus pandemic.
It filed a notice to appoint administrators from KPMG to kick start restructuring talks. The chain was founded by Tom Byng in 2007 but was purchased by current private equity owners Three Hills Capital in 2017.
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