Barown Restaurants, the company trying to launch Arby's, the American sandwich chain, has gone into voluntary liquidation.
The collapse comes after its second failed bid to open branches of Arby's in the UK.
The company's two restaurants in Southampton, Hampshire and Sutton, Surrey have closed after just six months.
The liquidator, Redhead French, said the debts were "quite substantial.
Shareholders had invested more than £1m in the restaurants which specialised in roast beef sandwiches.
Barown planned to have 100 Arby's in the UK in 1992 but the plans fell apart after two outlets in Glasgow, Scotland, and Haymarket, central London, both closed.
The collapse comes after its second failed bid to open branches of Arby's in the UK.
The company's two restaurants in Southampton, Hampshire and Sutton, Surrey have closed after just six months.
The liquidator, Redhead French, said the debts were "quite substantial.
Shareholders had invested more than £1m in the restaurants which specialised in roast beef sandwiches.
Barown planned to have 100 Arby's in the UK in 1992 but the plans fell apart after two outlets in Glasgow, Scotland, and Haymarket, central London, both closed.
