A 21-year-old entrepreneur has bought the struggling Byron burger chain for £2.5 million, stopping it from collapsing again.
Akshat Tibrewala, through his investment firm Niyamo Capital, has taken control of the brand after its previous owner warned it was close to appointing administrators.
Niyamo Capital, has taken a majority stake in the company after previous owner Tristar Foods announced plans to appoint administrators in September.
The Indian-born investor has injected approximately £2.5million into the business, whilst London-based private equity firm Calveton UK will maintain a minority shareholding.
The acquisition encompasses both Byron and its sister brand Mother Clucker, which operates as a fried chicken delivery service on Deliveroo.
The rescue deal offers a lifeline to the once-thriving restaurant chain, which has endured years of financial difficulties, controversies and dramatic downsizing.
The high-end burger chain has experienced a catastrophic decline from its 2016 zenith, when it operated 65 restaurants across Britain and generated annual revenues exceeding £80million.
The business has shed 58 locations over the past nine years, with hundreds of employees losing their positions as the company fought to remain viable.
Byron’s first major collapse occurred in 2020 during the coronavirus pandemic, reducing its estate from 51 outlets to 21 locations.
A second financial crisis struck in 2023, when the chain announced it would close half its remaining restaurants, leaving just seven operational sites by 2025.
The high-end burger chain has experienced a catastrophic decline from its 2016 zenith,
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Despite this dramatic contraction, the surviving restaurants continue to generate approximately £11million in yearly revenue, suggesting the brand retains some commercial viability.
The burger chain’s troubles began in 2013 when then-Chancellor George Osborne posted a photograph of himself consuming a Byron burger mere hours before revealing £11.5billion in welfare reductions, prompting criticism that he was disconnected from ordinary citizens.
Further controversy erupted in 2016 when immigration authorities conducted a raid at the company’s Holborn location, resulting in 35 employees being detained for deportation.
Byron maintained it had been unaware of workers presenting fraudulent documentation and was legally required to cooperate with the Home Office, though the incident triggered demonstrations and boycott demands.
These scandals, combined with escalating operational expenses, business rates and the devastating effects of pandemic lockdowns, created a perfect storm that decimated the once-successful chain.
Mr Tibrewala intends to transform Byron’s identity to attract younger customers, stating: “What we essentially want to do with Byron is look at the identity – proper hamburger, good-quality meat and British brand origin – and rebrand it for new consumer tastes and preferences, whether that be smashed [burgers] or different concepts that are relevant nowadays.”
The young entrepreneur plans international expansion into Dubai, citing the emirate’s growing British expatriate community as offering immediate brand recognition opportunities.
The rescue deal offers a lifeline to the once-thriving restaurant chain
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Mr Tibrewala remains optimistic about Byron’s prospects, noting: “We saw that the fundamentals of the business are good. When we looked at the numbers, we figured that with some operational efficiencies and some cost reductions, we can get this across into the green.
“November was a good month for us.”
The revitalisation strategy includes enhancing digital capabilities and modernising menu offerings to align with contemporary dining preferences.