The deal, overseen by restructuring specialists RSM, will preserve 14 of the group's restaurants and protect more than 270 jobs via a corporate restructure.
Sites in Aberdeen Union Square, Edinburgh Lothian Road and Manchester Deansgate will close permanently.
It is not know how many jobs will be lost as a result of the closures, but the group does say teams from the Edinburgh and Manchester sites will be transferred to other Barburrito restaurants in the two respective cities.
The deal backs the existing management team of CEO Morgan Davies, who founded the brand and opened the first Barburrito site in Manchester’s Piccadilly Gardens in 2005, and finance director Steve Herring.
“I am delighted that we have secured the future of Barburrito, just ahead of our 15th birthday," says Davies.
"The last few months have been extremely challenging for the whole sector. The high street is changing fast and my heart goes out to all those affected.
"Despite this, we have done really well in the stores that have remained open and, in particular, we have demonstrated the success of our delivery offering.
"In common with many in our sector, the closures and liabilities accrued during lockdown have resulted in us having to restructure the business. However, with the new investment, support of our landlords and the hard work of our fantastic teams, Barburrito is now well positioned to succeed in this new landscape.”
