Byron files notice to appoint administrators
The chain has 1,200 staff and 52 restaurants across the UK.
Byron is planning to go into administration, designed to provide protection from creditors as the company holds detailed talks with three potential buyers.
Sky News first reported that the burger chain, which is majority-owned by Three Hills Capital Partners, filed a notice of intention to formally appoint administrators.
Although Byron has declined to comment, QSR Media understands that any transaction is likely to be concluded quickly, so that plans for a phased re-open the estate from mid-July can still proceed, albeit on a potentially revised basis.
Since early May, accountancy firm KPMG has been trying to sell the 51-restaurant chain.
Last year, the company recorded a turnover of £70.9 million, with a gross profit of £31.6 million.
