Search
The Caterer

Byron reportedly heading to administration as it eyes sale

29 June 2020 by
Byron reportedly heading to administration as it eyes sale

Burger brand Byron has reportedly filed a notice of intention to appoint administers as it negotiates a possible sale.

Sky News reports that the group, which has around 50 UK sites, has filed its intention as it looks to a pre-pack sale of the business.

Byron, which underwent a company voluntary arrangement (CVA) in January 2018, was founded in 2007 by Tom Byng and is owned by private equity fund Three Hills Capital Partners, which purchased it in 2017.

Financial results published in July 2019 showed adjusted earnings declined from £4.7m to £500,000 for the year ending 24 June 2018, following the closures of 16 sites in the brand's portfolio.

The results, which incorporated the actions taken by the firm following its CVA process, reported a decline in like-for-like sales of 4.7%.

However, the company's pre-tax loss diminished from £54.7m in 2017 to £47.2m in the year.

Photo: Shutterstock

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.