Burger chain Byron to axe 651 jobs and close 31 restaurants
Burger chain Byron has announced plans to axe 651 jobs and close 31 of its 51 restaurants.
The fast-food restaurant chain has become the latest victim of the coronavirus pandemic, with businesses in the hospitality sector hit among the hardest.
Despite being saved from administration, administrators KPMG said the move was designed to save the remaining 20 sites and 551 employees.
The brand and certain assets have been sold to newly-former company Calveton. Will Wright, partner at KPMG and joint administrator, said: "In common with so many other companies across the leisure and casual dining industries, the impact of the Covid-19 pandemic on Byron has been profound.
"After exploring a number of options to safeguard the future of the business and following a competitive sales process, this transaction ensures Byron will continue to have a presence on our high streets."
Steve Absolom, partner at KPMG and fellow joint administrator, said: "It is always a regrettable outcome when hard-working people lose their jobs and so our focus now will be on providing those employees affected by redundancy with the support they need at this difficult time."
Sandeep Vyas of Calveton said: "Byron is a pioneering brand much loved by customers across the UK.
"We are backing Byron because we believe it has great opportunity ahead of it, and it is well placed to adapt to the new consumer environment and dining trends.
"We will continue to bring Byron's great tasting food to customers in restaurants and via digital on-demand platforms, whether they are at work, home or on the high street and we look forward to working with the team."