Famously Proper, the owner of the Byron and Mother Clucker casual-dining brands, has been bought out of administration.
The sale of the business, the second time it has changed hands within three years, will see nine branches close with the loss of 218 jobs.
Joint administrators Claire Winder and Chris Pole from Interpath Advisory said the business, which owns 21 casual dining burger restaurants across the UK, had faced "significant challenges to trading" over the past year due to rising food costs and falling consumer spending.
The lack of solvent offers led the company to file for the appointment of administrators, which resulted in the sale of the business and certain assets to Tristar Foods Limited.
Nine sites, including Manchester, Leeds and Chelmsford, will close with immediate effect. The joint administrators have said that they will support those looking to make claims from the Redundancy Payments Office.
Twelve sites, including Cambridge, Ipswich and Norwich, will be retained safeguarding roughly 365 jobs.
Winder, managing director at Interpath Advisory and joint administrator, said: "Like many other companies across the hospitality sector, Byron had seen a boost in trading following the end of the Covid lockdown measures. However, the sky-high inflation seen in 2022 saw costs spiral and resulted in reduced customer spend, which in turn placed significant cashflow pressure on the business.
"We are pleased to have concluded this transaction which will see the Bryon name continue to trade on high streets across the country and which, importantly, has preserved a significant number of jobs."
In 2020 investment firm Calveton, which owns Famously Proper, bought 21 of Byron's 51 sites out of administration for £4m. The chain, which was founded in 2007, had previously sold to private equity firm Hutton Collins for £100m in 2013.
The following sites will be transferred:
- Bury St Edmunds
- Edinburgh Royal Mile
- London – Central St Giles
- London – Covent Garden
- London – Old Brompton Road
- London - White City
The following sites will close:
- Edinburgh Lothian Road
- London - Wembley
- Milton Keynes