Power quits Belgo after profits alert

10 February 2000
Power quits Belgo after profits alert

Restaurant chain Belgo has announced the resignation of its operations director Tim Power just weeks after issuing a profits warning for this year.

In a statement, Belgo said that Power had decided to "seek a new challenge" and had "mutually agreed" that he would leave the company straight away, although it is understood that his contract entitled him to a six-month notice period.

In January Belgo warned that financial results for the year to 30 June were likely to fall below market expectations (Caterer, 20 January, page 10).

It blamed poor overseas trading compounded by a disappointing first quarter in its restaurants, with the exception of the more upmarket Ivy, Le Caprice and J Sheekey restaurants.

But the group said it would continue with its expansion plans of the Belgo and Bierodrome brands alongside the development of its new brand, Strada.

Last week saw the opening of the second Strada, a pizza and pasta restaurant, in London's Parsons Green.

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