Yo! has appointed Deloitte to advise on the possibility of a CVA, according to a report on Sky News.

It said although discussions are still ongoing, unless Yo! was able to strike reductions in rent with landlords it was likely a CVA would be the likely option.

Yo! had been in the process of reopening a number of sites which had been remodelled to deliver food to customers via its trademark conveyor belt.

It had opened 18 sites, with around 13 to follow in the coming weeks, around half of its 70-strong UK estate. It has around 100 sites in total, including outlets in the US, Europe and the Middle East.

A spokeswoman for Yo! told MCA : “All we can say at the moment is that Yo! has been engaged throughout the last few months in exploring measures to best manage our property estate.

”This has included talking directly with our landlords and consulting with advisors so we can best adapt to the changed marketplace.”