Byron files notice to appoint administrators

By James McAllister

- Last updated on GMT

Byron files notice to appoint administrators Coronavirus

Related tags: Byron, Administration, Coronavirus

Burger chain Byron has today (29 June) filed a notice of intention to appoint administrators.

The group, which is owned by Three Hills Capital Partners, had begun sounding out potential bidders for the business​ back in early May, with KPMG charged with overseeing the sale.

According to Sky News​, the notice of intention to appoint administrators is designed to provide protection from creditors as the company holds talks with three potential buyers.

Sources said Byron's board remained confident of sealing a deal in the coming weeks, with the likeliest outcome a pre-pack administration deal. 

It is understood that the group still intends to begin a phased reopening of its 51-strong UK estate from the middle of July.

KPMG declined to comment on the matter, but was able to confirm to BigHospitality​ that Byron had filed a notice of intention to appoint administrators this morning.

BigHospitality​ has also reached out to Byron for comment. 

It was first reported back in March that Byron had hired KPMG to explore its options​, having had to temporarily close its entire estate as a result of the Coronavirus pandemic.

The business previously underwent a financial restructuring in 2018, which saw it close 19 struggling restaurants; a process that was also overseen by KPMG.

Related topics: Business & Legislation

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