Three burger restaurants in Birmingham have been saved but a fourth will remain closed after a chain was bought out of administration.
Handmade Burger Company's venues in Brindleyplace, Bullring and Solihull's Touchwood centre have been included in a deal to acquire 20 restaurants operated by the group across the UK, saving 530 jobs in the process.
But the rescue deal did not include the group's restaurant in Grand Central which shut earlier this month and now looks likely to be closed permanently.
The opening of the Grand Central outlet was supported by £600,000 from Finance Birmingham, a taxpayer-funded scheme to support business opportunities in the city.
Handmade Burger Company was founded by Chris Sargeant and his two brothers who opened their first restaurant in Brindleyplace in 2006.
But two companies associated with the group, The Sargeant Partnership and Hand Made Burger Company, were placed into administration on July 6.
Nine restaurants employing 163 staff were closed following the appointment of administrators but the remaining 20 continued to trade and have now been bought by an unnamed, private investor.
Julien Irving, joint administrator from Leonard Curtis Recovery, said: "Since our appointment on July 6, we have worked hard to secure the most favourable outcome for all creditors.
"Despite being unable to propose a company voluntary arrangement, we have since managed to secure a buyer for the business and are delighted that this positive outcome has been achieved."
Law firm Squire Patton Boggs also acted on the deal.