Popular barbecue joint Red's True Barbecue, which has sites across the England including one in Manchester, has been bought out of administration.
Tokyo Industries has acquired the chain of American restaurants, with plans to expand into the festival market in the UK.
Although seven of the current eight Red's True Barbecue sites have been saved from closure - including the Albert Square restaurant - the Liverpool restaurant will be closing.
25 jobs will be lost in Liverpool as a result, with administrators working with the redundancy payments service to support affected employees.
Red's True Barbecue was founded in 2012 by James Douglas and Scott Munro, intending to bring authentic American BBQ to the UK. The pair first opened in Manchester in 2014.
The restaurant has made headlines thanks to its huge portions of slow-cooked meats and outrageous specials, including a doughnut burger.
The brand has since expanded across the UK, with restaurants in Leeds, Nottingham, Sheffield, Leicester, Headingley and Newcastle.
Around 235 jobs from the remaining sites are said to have been saved by the sale.
Tokyo Industries already operates 36 clubs, bars and festivals in the UK, as well as operations as far afield as Los Angeles and Dubai.
Their portfolio in Manchester includes the likes of Factory and South nightclubs, as well as Impossible on Peter Street.
Tokyo bosses are also preparing to open a new theatre-style cabaret venue on Lloyd Street next month.
Red's founders James and Scott will both continue with the business, with hopes that the investment will allow the brand to expand.
Tokyo Industries founder Aaron Mellor said: "Red's is an incredible brand with strong growth potential, the guys' passion, creative yet rebellious attitude versus near cult status restaurants are a perfect synergy for both parties."
