Thursday, 01 October, 2020

Frankie & Benny’s owner speeds up closures

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The operator of Frankie & Benny’s and Chiquito is to pace up options to shut dining places.

Cafe Group explained it would close up to 90 of the dining places and it will briefly suspend its dividend.

The team has been having difficulties with slipping profits at people dining establishments, which have offset more powerful performances in Wagamama and its concessions and pubs units.

Shares in Restaurant Group fell much more than 6% in early investing.

The firm mentioned it would reduce the amount of restaurants to 260 to 275 by the close of 2021, from 350 now.

It had in the beginning looked at much more than 100 eating places previous 12 months with a see to closing a quantity of them in just six several years.

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