Thai restaurant group Busaba is working with KPMG to examine its options for the future.
The group, established by Hong Kong-born restaurateur Alan Yau in 1999, has 13 sites across London.
KPMG declined to make any further comment.
The group announced in 2018 that it was refocusing on its London estate following the closure of its last non-London site in St Albans. It had closed its Liverpool and Manchester sites in 2017 after only a year, which it blamed on competition and disappointing sales.
In 2019, Busaba Eathai Holdings was acquired by Muzinich Private Debt through holding company Curry Acquisitions.
The Caterer has contacted Busaba for comment.