The Restaurant Group

The Restaurant Group plc is a British chain of restaurants and public houses. It is listed on the London Stock Exchange and is a member of the FTSE SmallCap Index.

The Restaurant Group plc
Public
Traded asLSE: RTN
IndustryRestaurant
Founded1987
HeadquartersLondon, England
Key people
Debbie Hewitt (Chairman)
Andy Hornby (CEO)
Kirk Davis (CFO)
Revenue£1,073.1 million (2019)[1]
£91.1 million (2019)[1]
£(40.4) million (2019)[1]
Websitewww.trgplc.com

History

The company was founded by Matthew Brown from Chatteris in 1987 as City Centre Restaurants plc with the objective of owning and managing the Garfunkel's Restaurant chain.[2] In the late 1980s the company bought the Mexican foodchain Chi Chi's and renamed it Chiquito.[2] Then in 1995 it opened its first Frankie & Benny's in Leicester.[2]

In January 2004 the company changed its name to The Restaurant Group plc.[3] In February 2004 it made an unsuccessful bid for Ask Central plc,[4] and in 2006 it bought back the Deep Pan Pizza chain, which it had previously sold to the management.[5] In 2016, the company announced it was closing 33 restaurants due to falling sales and profits.[6]

In 2018, The Restaurant Group purchased noodle chain Wagamama for £559m, to diversify its portfolio.[7]

On 3 June 2020, during the COVID-19 pandemic in the United Kingdom, The Restaurant Group told employees a "large number" of its outlets would not reopen after lockdown;[8] up to 120 restaurants, mainly Frankie & Benny's, were set to close permanently,[9] with the loss of between 2,000 and 3,000 jobs.[10] On 8 June, The Restaurant Group said it was in discussions with its landlords about potential restructuring options,[10] and three days later announced it had entered a company voluntary arrangement (CVA) and planned to cut 125 sites.[11]

Operations
Frankie and Benny's at Spytty Business Park outside Newport

The company operates around 350 restaurants and public houses under the several brands, including:[12]

See also

References
  1. "Annual Results 2019". Restaurant Group. Retrieved 3 March 2020.
  2. "Catering & Hospitality News". Caterer Search. Retrieved 3 April 2015.
  3. "FE Investegate -CityCentreRestaurant Announcements - CityCentreRestaurant: Result of EGM & Name Change". investegate.co.uk. Retrieved 3 April 2015.
  4. "PizzaExpress trumps Restaurant Group with £225m offer for Ask". The Caterer. 13 February 2004. Retrieved 23 April 2017.
  5. "TRG buys back Deep Pan Pizza". www.pizzamarketplace.com. Archived from the original on 7 October 2012. Retrieved 3 April 2015.
  6. Kollewe, Julia. "Frankie & Benny's owner closes 33 restaurants". The Guardian. Retrieved 26 August 2016.
  7. "Wagamama noodle chain sold to Frankie & Benny owner". The Guardian. 30 October 2018. Retrieved 30 October 2018.
  8. Jones, Lora (2 June 2020). "Frankie & Benny's owner: Some sites won't reopen". BBC News. Retrieved 3 June 2020.
  9. Butler, Sarah (3 June 2020). "Frankie & Benny's owner to permanently close 120 restaurants". Guardian. Retrieved 5 June 2020.
  10. McAllister, James (8 June 2020). "TRG in talks with landlords over 'potential restructuring options' for leisure estate". Big Hospitality. Retrieved 8 June 2020.
  11. McAllister, James (11 June 2020). "TRG eyes 125 closures as CVA announced". Big Hospitality. Retrieved 11 June 2020.
  12. "Pub Restaurants". trgplc.com. Retrieved 3 April 2015.
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