Sandwich chain up for sale

THE owner of sandwich chain Eat is looking to put the business up for sale.

Private equity firm Horizon Capital has appointed advisers to secure a deal amid a downturn on the High Street, according to Sky News.

Horizon, previously known as Lyceum Capital, snapped up a controlling stake in Eat eight years ago with plans to treble its stores to 300.

Eat currently has 95 outlets across the UK.

It comes amid a torrid time for the restaurant industry which has seen a string of firms such as Byron, Prezzo and Jamie’s Italian close sites.

High Street food chains have also been struggling to compete with the rising demand for home delivery offered by the likes of Deliveroo and Just Eat.

Eat was founded in 1996 by husband and wife Niall and Faith MacArthur and opened its first shop next to Charing Cross station in London.

Horizon Capital declined to comment last night.