The chain says unless creditors and landlords agree to the proposal, it will be forced to close some restaurants.
Byron Burger is asking landlords to agree to a temporary rent reduction at more than 20 locations or risk closing some of its resturants.
The burger chain has warned some outlets could close if creditors and landlords don’t agree to the plans to dramatically reduce its rent over a number of months.
In Camberley, Byron is asking The Atrium Shopping Centre for a 55% rent reduction for six months after announcing a Company Voluntary Arrangement (CVA) in early January 9 as part of a restructuring process.
The chain’s creditors will vote on the CVA on January 31, and, if approved, the company says it will allow it to move to a more “viable business model”.
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