Byron seeks to "reposition" its brand after restaurant closures
CEO Simon Wilkinson wrote in recent filings on Companies House that investment in a “complete overhaul” of the design, menu and service in Byron’s 53 remaining restaurants started this month.
“The business is turning its attention to achieving operations excellence, evolving the Byron brand and continuing its journey into a nation of ‘proper hamburger’ lovers by innovating its current restaurants as well as opening further restaurants across the UK,” he wrote.
It follows a difficult year for the burger chain, which closed 19 sites under a Company Voluntary Arrangement (CVA) in 2018.
Byron's earnings fell to £500,000 in the 12 months to 24 June 2018, down from £4.7m in 2017.
The group reported a post-tax loss of £47.2m for the year, though net liabilities decreased from £61.9m to £2.4m
Wilkinson said Byron had carried out “significant strategic research” to “identify key consumer needs in the premium burger market” going forward.
The company hired chef and food writer Sophie Michell as its food and drink director earlier this year to rejuvenate the menu.
It is also investing in marketing its takeaway and delivery offer. Last year Byron’s like for like sales declined 4.7%, but sales through Deliveroo rose 14%.
