Byron Hamburgers is set to close as many as 20 outlets as part of a rescue plan.
The struggling food chain’s Chief Executive, Simon Cope, said the company meant "a number" of restaurants would close.
"We will do everything possible to redeploy staff to other sites and initiatives," he said.
Byron employs around 1,800 staff. However, according to KPMG, the accounting firm handling the restructuring, employees, suppliers and business rates would continue to be paid on time and in full.
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