The owners of Frankie & Benny's have announced plans to close up to 90 restaurants by the end of next year.
The Restaurant Group (TRG) owns a number of casual dining chains including Frankie & Benny's, Chiquitos and Wagamama.
The group has announced that up to 90 of its sites will be closing with some restaurants being converted into Wagamamas, one of its more profitable brands.
TRG said at least 31 of its leisure sites will not see their contract renewed, with the number potentially rising depending on discussions with landlords.
It is also planning to sell a further 47 sites and convert up to 12 restaurants.
The move will take its leisure portfolio down from 350 to around 260 sites by the end of next year.
TRG, which closed 18 of its sites in 2019, acquired the Wagamama brand in October 2018 and has since seen sales grow by 56.4 per cent.
Andy Hornby, chief executive officer of TRG, 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.
“Following an extensive review we have defined three clear strategic priorities for the next two years: Grow our Wagamama, concessions and pubs businesses; rationalise our leisure business; and accelerate our deleveraging profile.”
The group has 650 sites in total.
The company has not yet announced which sites may be affected by the changes.
The casual dining industry has taken a hit in recent years with the collapse of brands including Jamie's Italian, Handmade Burger Company and Gaucho's Cau.
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