Hamburger chain Byron has seen the scale of its presence in the UK significantly reduced after closing 31 sites.
The remaining 20 have been bought out of administration by a new owner led by investment firm Calveton.
At its height, the group had more than 50 sites in operation.
Sandeep Vyas, director of Calveton, said: “We are backing Byron because we believe it has great opportunity ahead of it, and it is well-placed to adapt to the new consumer environment and dining trends.
“We will continue to bring Byron’s great-tasting food to customers in restaurants and via digital on-demand platforms, whether they are at work, home or on the high street and we look forward to working with the team.”
KPMG were officially appointed as administrators for Byron on Friday.
Joint administrator Will Wright said: “In common with so many other companies across the leisure and casual dining industries, the impact of the Covid-19 pandemic on Byron has been profound.
“After exploring a number of options to safeguard the future of the business and following a competitive sales process, this transaction ensures Byron will continue to have a presence on our high streets.”