Byron Burger is said to have filed a notice to appoint administrators from KPMG on Monday.
The company employs around 1,200 staff across its 51 UK branches.
However, it’s thought that the move will protect the business from being taken over by its creditors while it continues talks about the chance of a rescue plan.
Byron had started a sale process in recent months due to the pandemic, and is said to have three potential buyers.
The company already closed ten of its restaurants after restructuring following its sale to private equity owners Three Hills Capital back in 2017.
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