Search
The Caterer

‘Large number' of the Restaurant Group sites won't reopen

03 June 2020 by
‘Large number' of the Restaurant Group sites won't reopen

The Restaurant Group (TRG), which operates brands including Wagamama and Frankie & Benny's, is expecting a "large number" of sites to not reopen.

In an email to staff seen by the BBC, TRG said many sites are "no longer viable to trade and will remain closed permanently".

The Restaurant Group declined to comment and could not confirm which sites or how many would remain closed.

TRG filed notice to put Chiquito into administration in March, a move which will permanently close the majority of the 81 Tex-Mex brand's sites.

The Restaurant Group had already announced last year that it would close more than 150 outlets, including Chiquito and Frankie & Benny's sites, as part of a restructure over the next six years, following its acquisition of Wagamama for £559m.

The group raised £57m through a share placing in April aimed to provide the company with "sufficient" liquidity to continue to operate through the coronavirus crisis. However, it issued a "pessimistic scenario for the current financial year" at the time, with the possibility that only 400 of its 600 sites will reopen.

Wagamama owner raises £57m in share places but warns some sites may not reopen >>

'It's adios for now' – Chiquito to close majority of sites as group files for administration >>

The Restaurant Group expected to announce further disposals >>

Continue reading

You need to create an account to read this article. It's free and only requires a few basic details.

Already subscribed?

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.