Byron appoints new MD after staff reshuffle
BigHospitality’s sister site MCA reports that Byron chief operating office Nick Young is leaving the company.
Steve De Polo, who joined as commercial and brand director from the Ei pub group two months ago, has been named managing director and taken some of Young’s responsibilities.
A Byron spokesperson said: “We are delighted to confirm that Steve de Polo has taken on a larger role within Byron as the company enters an exciting new period.
“Byron’s financial restructuring and CVA process is now complete and we have turned our attention to achieving operational excellence, evolving the Byron brand and continuing our journey to turn the UK into a nation of proper hamburger lovers.”
Byron has begun a “complete overhaul” of its design, service, supply chain and menu after closing 17 restaurants and entering a Company Voluntary Agreement (CVA) earlier this year.
It warned in its latest financial results that it could need additional funding to stay afloat if trading conditions did not improve.
Accounts for the year to 25 June 2017 show Byron suffered post-tax losses of £54.7m, down on a profit of £0.1m in 2016. The company said this loss contained a number of exceptional items, while EBITDA fell from £9.8m to £4.7m.
Byron’s six-month CVA, which has seen rent reduced at five under performing restaurants, will end on 1 September.
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