Living Ventures has closed Manchester restaurants Artisan and Manchester House placing both into administration following a "period of difficult trading".
The company, led by chief executive Jeremy Roberts, has appointed administrators Duff & Phelps to lead the administration process.
Roberts said: "Trading at Artisan and Manchester House bar and restaurant has been much lower over the summer, and like many other restaurants, we have struggled with balancing rising costs and high rents, together with localised access difficulties. I would like to take this opportunity to thank our brilliant and hardworking teams; we are currently contacting all affected employees and looking into available roles in other parts of the group."
Chef Aiden Byrne was formerly chef-proprietor of Manchester House, having teamed up with Living Ventures in 2012.
He left the business in November 2017 to join D&D London with Nathaniel Tofan taking over the reigns at Manchester House following his departure.
Casual dining restaurant Artisan opened in 2013 in a semi-industrial space Manchester's Spinningfields.
The remainder of the group, which comprises more than 40 bars and restaurants, continues to trade with revenues in the year to March 2018 of £20m.
Those with reservations at Artisan or Manchester House will be offered alternative bookings at other restaurants in the group. Gift cards will be redeemable at Australasia restaurant until March 31 2019.