Frankie & Benny's owner The Restaurant Group will shut 125 of its restaurants after its creditors voted in favour of a restructuring deal.
Lenders approved the group's Company Voluntary Arrangement (CVA) deal which will slash its leisure restaurant portfolio, which primarily consists of Frankie & Benny's sites.
The restructure, which was first announced earlier this month, will also affect its smaller Garfunkel's and Coast-to-Coast chains.
But Wagamama, which it acquired in 2018 for £559 million, trades as a separate entity and will not be affected.
The Restaurant Group (TRG) chief executive Andy Hornby, who was at the helm as things began to go pear shaped at HBOS in 2008, said: "These are exceptionally challenging times for our sector and TRG is extremely grateful for the support shown by our creditors in today's vote.
"The approval of the CVA is a critical component in ensuring the future prospects for our leisure business.
"I would like to wholeheartedly thank our colleagues who have shown extraordinary commitment throughout the process."
