The Byron burger chain has closed nine sites after its parent company Famously Proper appointed administrators and sold the business to Tristar Foods.
Famously Proper, which operated 21 casual dining restaurants trading under the Byron and Mother Clucker brands, appointed joint administrators Claire Winder and Chris Pole from Interpath Advisory on 13 January, following a ‘challenging’ 12-month period in which the businesses’ food and utilities costs rose and consumer spend at its sites reduced.
The directors of Famously Proper said they explored a number of different options to safeguard the future of the business, but no ‘solvent offers were forthcoming’ so they took the ‘difficult decision’ to file for the appointment of administrators – it is the second time in less than three years that the company has called in the administrators.
A sale of the business and certain assets was concluded to Tristar Foods, with 12 sites transferring to the company as part of the transaction. The nine sites that have closed are: Bluewater, Chelmsford, Edinburgh Lothian Road, Leeds, London – Wembley, Manchester, Milton Keynes, Salisbury and Southampton.
Winder, who is managing director at Interpath Advisory, 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.”
