Red's True Barbecue chain bought out of administration
A barbecue restaurant chain has been bought out of administration, safeguarding 235 jobs.
Leeds-based Red's True Barbecue had suffered cash-flow pressures following a period of "challenging" trading, the administrators said.
Six of the company's seven restaurants have been sold to Newcastle-based Tokyo Industries.
One restaurant, in Liverpool, will close with the loss of about 20 jobs.
Joint Administrators, Anthony Collier and Andrew Haslam, at FRP Advisory LLP, said the deal also included the sale of a microbrewery in Leeds.
"Red's True Barbecue is a well-known name in the northern hospitality industry and we're pleased to have secured a deal that first and foremost saves many jobs," they said.
They added high overheads and rapid expansion had "exacerbated" the financial issues facing the business.
"Our main priority is now to work closely with the Redundancy Payments Service to support affected employees during what we know will be a difficult time."
Tokyo Industries is a nightclub, bar and restaurant owner and has 36 sites across the UK.
Red's co-founder James Douglas said despite earlier information stating the Newcastle restaurant would close, it had been saved and would be open on Friday.
Red's True Barbecue sites purchased by Tokyo Industries: