The Restaurant Group confirms talks with landlords over potential restructuring
It may close up to 120 Frankie & Benny’s sites.
The Restaurant Group (TRG) confirmed it has been in talks with landlords regarding potential restructuring options for its Leisure estate following reports by other publications of plans to close up to sites, mostly under the Frankie & Benny’s restaurant brand.
“As is widely understood our industry is facing exceptional challenges in what is an unprecedented operating environment. The casual dining sector was already facing significant challenges prior to the onset of Covid-19, with overcapacity and significant cost pressures,” it said in a statement.
“In order to meet both the immediate challenges and to build a post-lockdown business with a sustainable future, we are in discussions with our landlords regarding potential restructuring options for our Leisure estate.”
TRG, which also owns Garfunkel’s and Chiquito, noted that Wagamama, Airport Concessions and Pub operations are not affected by the said discussions.
Various reports detailed that TRG plans to close up to 120 Frankie & Benny’s sites with the loss of up to 3,000 jobs after the lockdown. It currently has around 22,000 staff on furlough.
