Hutton Collins, the private equity firm that owns casual dining chain Byron, is reported to be conducting a strategic review of the business.
Sky News claimed that a meeting of Byron's board earlier this week had led to a decision to appoint professional services firm KPMG to look at options.
The likeliest of those options were a sale of the whole company, or of a substantial minority, according to the report.
Byron has about 70 sites across the UK, having opened its first restaurant in 2007. It has been owned by Hutton Collins for four years following a £100m deal in 2013 when it had just over 30 sites.
The company declined to comment.
Videos from The Caterer archives