The Byron burger chain will close 31 restaurants and layoff 650 employees, another blow to the high street economy
- The upscale burger chain was sold to Calveton in a pre-pack administration
- The Byron employee informed MailOnline that the layoffs will take effect immediately.
- The restaurant group had previously announced the intention to appoint administrators
- Byron closed the sites on March 18 and had to discontinue the restructuring program
Byron's burger chain will close 31 restaurants and lay off 650 employees, another blow to the main street economy.
The company was sold to Calveton in a pre-pack administration and will cut more than half of its 1200 employees, leaving 20 of its locations open.
A Byron employee also informed MailOnline that the layoffs would be "immediate."
The burger company has reportedly been sold to Calveton in a pre-pack administration and will employ more than half of its 1200 employees
Former Chancellor George Osborne once tweeted a picture of him eating a Byron burger in June 2013 the night before he started his spending review
The employee told MailOnline: "You sold it to investors, and then 31 restaurants were not included in the sale, and all employees of those restaurants were fired with immediate effect.
I knew it was going to be fair, but it's not great to be left out at the last minute. I think a lot of people feel that way.
"They said they tried to do everything they could, but I think people just feel very cheated. You now have neither income nor work. & # 39;
The employee added: “Most have been working there for about a year, so they don't get paid because you have to work for two years. So it's ridiculous.
They said the government would pay for it. They suggested that we sign an allowance for job seekers today. & # 39;
The upscale chain, which was founded in 2007 and has 51 British restaurants, has hosted a number of notable personalities. George Osborne once tweeted a picture of himself eating a Byron burger in June 2013.
Prince Harry also took his ex-girlfriend Cressida Bonas on a burger in the chain's store on Kensington High Street in 2014.
It follows that Byron submitted a letter of intent to appoint administrators last month when he had talks with three potential buyers.
In May, KPMG was commissioned to assist Byron in exploring the government's Covid support initiatives and then securing new investments for the company.
Covid met Byron at a frustrating time when the company entered the ninth month of a turnaround plan – and was forced to end a restructuring program.
A Byron employee informed MailOnline that the layoffs would be "immediate." The employee also said that many people feel "cheated".
The company also placed all hourly employees on minimum hourly payment terms to ensure that they were protected during the ban.
Byron closed all of its locations as of March 18, two days before the government forced it to do so, and five days before the full closure was introduced.
The chain had gross profits of almost £ 32m in 2019 after having lost more than £ 42m in the previous year.
Will Wright, partner at KPMG and joint administrator, told MailOnline: & # 39; As with so many other companies in the leisure and leisure industry, the impact of the COVID-19 pandemic on Byron was profound.
"After considering a number of options to secure the future of the business and following a competitive sales process, this transaction ensures that Byron will continue to be present on our main streets."
Steve Absolom, partner at KPMG and joint administrator, added: “It is always an unfortunate result when hard working people lose their jobs. Therefore, we are now focusing on providing layoff employees with the support they need in this difficult time. & # 39;
Calveton-based Sandeep Vyas commented: & # 39; Byron is a pioneering brand that is loved by customers across the UK. We support Byron because we believe it has great opportunities and is well positioned to adapt to the new consumer environment and restaurants.
"We will continue to offer delicious Byron food to our customers in restaurants and through digital on-demand platforms whether they are at work, at home or on the main street, and we look forward to working with the team."
MailOnline asked Byron for a comment.
In the UK, at least 66,702 jobs are at risk from the ongoing coronavirus crisis
The table below shows how many jobs in UK companies are at risk
Byron – 600
Dyson – 600
Southbank Center – 400
DFS furniture – 200
Centrica – 5,000
Johnson Matthey – 2,500
Accenture – 900
Airbus – 1,700
Arcadia – 500
BA – 12,000
Beales – 1,052
Bentley – 1,000
Burberry – 150 at risk
Burger King – 1,600
Casual Dining Group (Bella Italia, Cafe Rouge and Las Iguanas) – 1,900
DHL at Jaguar Land Rover – 2,200
EasyJet – 4,500
Go outdoors – 2,400
The guardian – 180 in danger
BBC – 520
Harrods – 700
Harveys – 240
Left – 350
Maternity care – 2,500
Oasis Warehouse – 1,800
P&O Ferries – 1,100
Pret a Manger – 1,330
Ryanair – 3,000
Skyscanner – 300 (84 in Edinburgh)
Upper crust, Caffe Ritazza – 5,000
Ted Baker – 160
TM Lewin – 600
Tui – 950
Victoria's Secret – 800 Endangered
M&S – 950
Selfridges – 450
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