Tristar Foods acquires Byron owner out of administration
The company was put into administration after no solvent offers were forthcoming despite the company exploring a number of options
Famously Proper, the owner of Byron Burger, has been bought out of administration by Tristar Foods Limited.
Administrators from Interpath Advisory were appointed to the company on 13 January 2023 and the business was sold to Tristar.
A total of 12 sites formerly owned by Famously Proper will transfer to the newco, saving around 365 jobs. Nine sites will close immediately with 218 people being made redundant.
Over the past year the company faced significant challenges to trading, driven by rising costs, principally food and utilities, together with a reduction in customer spending.
The company was put into administration after no solvent offers were forthcoming despite the company exploring a number of options.
Claire Winder, managing director at Interpath Advisory and joint administrator, 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.”
