Byron Burgers hires consultant in search for new investors

Calveton, the parent company of Byron Burgers, has reportedly hired business management consultants Interpath Advisory in a bid to find new investors as the business is to be flipped to a new owner. 

The news comes as the hospitality industry tackles stiff economic headwinds, while casual dining chains contend with the prospect of recession and the realities of soaring energy costs. 

The UK-based burger restaurant chain is reportedly looking for new investors after almost facing insolvency over two years ago. 

According to Sky News, Byron was one of numerous hospitality companies that suffered as a direct result of the Covid pandemic and is currently working with advisers on a potential transaction. 

Byron, which now trades from approximately 20 restaurants, was taken over by Calveton in 2020. Three Hills Capital Partners is also a minority investor in the company.

Sky said it was likely to be another pre-pack administration for the company, where a buyer is lined up to acquire its assets without its liabilities. 

However, insiders reportedly insisted on Friday that speculation about such an outcome was “premature”. Byron’s last restructuring resulted in the closures of dozens of restaurants and hundreds of job losses.

Calveton and Interpath Advisory could not be reached for a comment.