Byron Burger receives £10m cash injection following store closures

Byron Burger has received a £10m cash injection from its investors after it closed 19 restaurants as part of a CVA in May.

The new investment from Three Hills Capital Partners is expected to see the chain refurbish all of its existing restaurants, after it began to restructure branding, marketing, and menu choices last year following a £34.5m injection.

Byron CEO, Russell Hoare, said the cash injection showed a sign of confidence and was “a clear sign that the Byron chain is now on the right track”. Hoare said that the company was making “good progress across the board”, following financial results which showed a pre-tax loss of £55m for the 12 months to June 2017.

Last December saw former Wagamama CEO Simon Cope resign from his position as Byron boss following the departure of the burger chain’s chief operating officer and marketing director.