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The Restaurant Group expected to announce further disposals

24 February 2020 by
The Restaurant Group expected to announce further disposals

The Restaurant Group (TRG) is expected to announce further disposals of struggling sites in its 2019 final results on Wednesday.

According to the [Mail on Sunday] (https://www.thisismoney.co.uk/money/news/article-8032785/Goodbye-Frankie-Bennys-quits-ailing-retail-parks.html), many of the restaurants identified are in retail parks, with TRG also considering converting underperforming sites to Wagamama restaurants or not renewing leases.

Former HBOS boss Andy Hornby joined the company as chief executive in August, following the departure of Andy McCue. In September the group said it plans to close over 150 sites as part of a restructure following its takeover of Wagamama.

TRG, which operates brands including Chiquito and Frankie & Benny's, purchased the 133-site Wagamama portfolio in a deal that valued the company at £559m towards the end of 2018, in a move that it described as "transformative".

Photo credit: Shutterstock

Wagamama's success continues as like-for-like sales grow by 6.3% >>

The Restaurant Group to close over 150 sites >>

Andy Hornby to join the Restaurant Group as CEO on 1 August >>

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