Published: 12:03, 29 June 2020
| Updated: 12:05, 29 June 2020
Burger chain Byron is the latest big name struggling to survive after admitting it is on the verge of calling in administrators.
The firm, backed by private equity company Three Hills Capital Partners, admitted earlier this month it was seeking new owners as it struggled to cope with the closure of its outlets due to the health crisis.
Byron has restaurants in Canterbury and Bluewater and employs some 1,200 people nationwide.
It is understood the firm has today filed an intention to appoint administrators.
The move will allow the firm protection from creditors - those it owes money to - during the process.
Founded in 2007, the company has faced difficulties in recent years, unveiling a plan to shut 20 of its outlets in January 2018 after disappointing sales figures.
Accountancy firm KPMG, which was tasked with finding a new buyer, says it has a number of interested parties, but not revealed who they are.
It is understood Byron bosses are "confident" a deal can be struck which would see assets passed to a new owner.
The hospitality industry has been badly hit by the lockdown, which saw outlets shut in March. They are being allowed to reopen - but with social distancing rules in place - on Saturday, July 4.
More by this authorChris Britcher
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