£10m Investment Put Into Byron Burger in Hopes to Save the Chain

According to The Sunday Times, this particular investment has come after Byron Burger entered into a CVA (Company Voluntary Agreement) last year, closing 19 branches.  This troubled chain has faced several hardships over the year; including a pre-tax loss of £55m on sales, out of the £88m from the 12 months to June 2017.

In the hopes to give the company’s fortunes a bit of a turnaround, Byron changed their menu, offering vegan options and craft beers to their customers, along with also going ahead with price cuts.

The added cash came in less than a year after the chain had secured £34.5m from backer of private equity firm, Three Hills Capital Partners, which shortly became the shareholder for the restructuring and control part of the business.

The £10m lifeline investment is a hopeful and clear sign that they may be out of the clear and heading along the right path, showing that Byron’s progress is only good.

Byron was founded in 2007 and was ever-growing from that point onwards, being sold to buy out Hutton Collins in 2013, which was worth around £100m.  The fast growing business was doing well until it was hit by last years ‘casual dining crunch’ which affected the likes of Prezzo, Jamie’s Italian and Gourmet Burger Kitchen, which was all down to the mix of raised wages, increasing business rates and higher costs.