Troubled burger restaurant chain Byron has unveiled a restructuring plan which could lead to the closure of 20 sites.

The company has unveiled proposals which would reduce the rent it pays at a number of its 67 eating destinations.

Bosses said a number of restaurants “have not met expectations” and blamed the decision to restructure its debts on “gathering economic headwinds”.

But its two restaurants in Kent, at Bluewater and Canterbury, appear to be safe under the plan known as a company voluntary arrangement (CVA).

Accountancy firm KPMG, which will supervise the restructuring process, said the two sites are among priority locations which will not ask landlords for reduced rents.

A restaurant in Bromley, however, comes under a separate category of its portfolio, where it will ask for a two-thirds cut in its payments.

Although there will be no immediate closures, another 20 locations appear to be at risk.

KPMG partner Will Wright said these restaurants will pay 55% of rent for six months “while the company engages with landlords to agree the basis of any continued trading from these premises”.

The business will need to get 75% of its creditors to agree to the plan or go back to the drawing board.

KPMG will spend the next two weeks in talks with landlords to make sure they understand the full detail of the proposal.

A vote will be held on January 31.

“It’s important to stress that no restaurants will close on day one, and employees, suppliers and business rates will continue to be paid on time and in full..." - KPMG partner Will Wright

Mr Wright said: “Over the last 10 years, Byron has grown to become a stand-out name within the UK’s casual dining sector.

“However, in recent times, certain parts of its portfolio have not met expectations, and with gathering economic headwinds starting to impact the sector more profoundly, the directors embarked upon a strategic review of the business as a means of safeguarding its long-term future.

“As part of this strategic review, the directors have been successful in negotiating a financial restructuring with the company’s lenders and shareholders, which will enable new investment to come into the business.

“Completion of this financial restructuring is conditional on the approval of today’s CVA proposal, which is designed to tackle the cost of the company’s leasehold obligations across its UK restaurant portfolio.

“As with similar CVAs, this arrangement seeks to strike a balance which provides a fair compromise to landlords, while allowing the viable part of the business to move forward across a smaller, more profitable core estate.

“It’s important to stress that no restaurants will close on day one, and employees, suppliers and business rates will continue to be paid on time and in full.”