Frankie & Benny’s restaurant chain is owned and operated by the Restaurant Group. Credit: Brian Robert Marshall/ Frankie & Benny’s restaurant.

Frankie & Benny’s and Chiquito brands owner Restaurant Group has announced plans to close up to 90 locations by the end of 2021.

The move is a part of the company’s efforts to rationalise its leisure business, which will reduce the number of restaurants from 350 to approximately 260-275.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

According to its 2020 to 2021 strategic priorities, Restaurant Group intends to grow its Wagamama, Concessions and Pubs businesses, as well as accelerate its deleveraging profile and reduce net debt.

In addition, the casual dining group temporarily suspended its dividend to fulfil strategic priorities.

Announcing full-year results, Restaurant Group noted that the overall leisure portfolio was reduced by 18 sites in 2019 due to closures and conversions to Wagamama.

In 2019, the group registered total sales of £1.07bn, an increase of 56.4% compared to £686.0m reported in 2018.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Restaurant Group CEO Andy Hornby said: “Our three growth businesses of Wagamama, Concessions and Pubs are all out-performing their respective markets and have clear potential for further growth.

“I am also acutely aware of the challenges facing our leisure business and the wider casual dining sector.

“It is, therefore, clear that our strategic priorities need to evolve in order to maximise shareholder value in the medium term.”

At the end of 2019, Restaurant Group operated 650 restaurants and pub restaurants across the UK. Its main brands include Frankie & Benny’s, Chiquito, Brunning & Price and Wagamama, acquired in 2018.