HUNDREDS of jobs are under threat at Byron after the stricken burger chain put 20 restaurants at risk of closure as part of a proposed restructuring package, including its outlets in Aberdeen and Glasgow.
Byron is looking to agree a company voluntary arrangement (CVA) to help put them on firmer financial ground by securing hefty discounts on rental costs.
A CVA allows a business to close loss-making stores and was recently used by embattled toy retailer Toys R Us.
Accountancy giant KPMG, which is handling the process, said Byron’s directors were using the move in order to secure the company’s future amid “gathering economic headwinds”. However, it would need to win the backing of landlords and creditors before pushing forward with the process.
Byron employs around 1800 people across the UK.
The group confirmed that Three Hills Capital Partners would strike a deal to become the biggest shareholder in the group as part of a sale process linked to the CVA.
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