Burrito brand Chilango is in talks with RSM over a potential restructuring, City A.M. reports.

The company is understood to be considering all options, including administration or a company voluntary arrangement (CVA).

Chilango confirmed to City A.M. that it had engaged RSM “to assist on long-term planning, options and strategy” for the company, but declined to comment on what those options were.

The chain, led by Eric Partaker and Dan Houghton, has raised £5.8m from around 1,500 retail investors through two mini-bonds dubbed ‘Burrito Bonds’.

Mini-bonds allow investors to buy high interest, unsecured debt.

The bonds cannot be traded between third parties and are illiquid and so are considered risky investments.

More than 700 investors backed Chilango’s first bond, which was raised in 2014.

Its most recent bond – promising an 8% return for four years – raised £3.7m from almost 800 retail investors.