Three Hills Capital Partners, the majority shareholder of burger restaurant chain, Byron Hamburgers Ltd, has instructed financial advisers, KPMG to seek out potential buyers today.
Due to the pandemic, Byron closed its 51 restaurants and furloughed 1,200 employees when PM Boris Johnson called for closures on 23 March.
Three Hills Capital Partners will also be considering a refinancing of the burger chain, according to Sky via a source.
Additionally, the investment group is continuing to examine whether it can access any of the Treasury's emergency lending programmes.
Byron faced a punishing 2018 as it entered into a company voluntary agreement (CVA) and closed 19 restaurants, before securing £10m in February 2019 as it tried to increase ailing sales figures.
Three Hills Capital Partners purchased the chain, which was founded in 2007, from Hutton Collins in 2017.