The owner of the Frankie and Benny’s chain The Restaurant Group,has confirmed plans to close 125 of its sites as it tries to push down rents after the huge hit to the hospitality sector from coronavirus.
The company, which has about 22,000 staff on furlough, is one of Britain’s largest restaurant operators.
Its 650 restaurants and pubs include the Wagamama and Garfunkel’s brands, is planning not to reopen as many as 120 outlets after the lockdown ends, putting up to 3,000 jobs at risk.
The company has launched a company voluntary arrangement – where creditors such as landlords agree to cheaper terms for troubled firms.
