In the News
Byron in financial trouble seeks cuts in rents
9th January 2018
The restaurant chain Byron is in financial trouble and is seeking to negotiate reductions in rent on a sizeable number of their leased properties in a bid to reduce fixed costs and losses.
If they enter into a rescue package agreement with creditors, it is likely that 15 of their 70 restaurants will close. Byrin is not alone in being affected by higher food costs (in part caused by rising import prices because of the fall in sterling) along with a softening of consumer confidence.
Byron, the struggling burger restaurant chain, has placed 20 sites at risk of closure under a restructuring plan aimed at securing its future https://t.co/mlElkqjS0t
— Sky News (@SkyNews) January 9, 2018
5 reasons why the wheels may have come off for Byron burgerhttps://t.co/bOmL3ug1gt #ByronBurger
— The London Economic (@LondonEconomic) January 9, 2018
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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