FishWorks takes steps to boost business
Restaurant chain FishWorks has taken steps to address the weak trading that led to a profit warning last December and caused the resignation of its chairman.
FishWorks has relocated its head office from London's West End to above its Islington property, also in the capital.
This, said FishWorks, combined with redundancies and the subsequent handing back of more control to individual sites, will save an estimated £225,000 in 2007 and £650,000 on an ongoing basis annually.
All FishWorks sites will also now open on Mondays, which has been made possible by the acquisition of Channel Fisheries last year.
In a statement today the company said: "This more efficient use of our resources should, we believe, benefit our top line sales and also our margins. We have seen week-on-week sales increase by 8% in the first week of this being in operation."
Following the resignation of company chairman Roy Morris in December, the group is still searching for a replacement as well as an operations manager to help improve performance.
FishWorks chief executive Mitch Tonks, said: "The review and changes we have made over recent weeks should be very beneficial to our business. The new team is focussed on driving business hard and managed well in order to increase shareholder value."
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By Emily Manson
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