Byron the latest gourmet burger chain in trouble

Byron has quickly become one of the UK's most popular burger chains
12/07/2017 - 12:29
Following on from last week’s announcement that Handmade Burger Co had gone into administration, fellow gourmet burger chain Byron is the latest high street chain considering cutting costs by shutting down some of its branches.

With 69 stores currently operating across the country, Byron has quickly become one of the UK’s most popular burger bar chains since its foundation in 2007, but is now having to consider closing down some of its restaurants due to rising costs.

Byron is owned by private equity firm Hutton Collins which bought the company for £100 million in 2013. The burger chain’s profits last year fell to 194,000 from five million in 2015 and it now has debts of £45 million.

Upon entering administration last week, rival chain Handmade Burger Co declared that nine of its 29 UK restaurants would be closed down because of profit slumps, rising food costs and the introduction of the national living wage puts financial pressure of the sector.

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