Restaurant Group in restructuring talks with landlords

The Restaurant Group has confirmed it is in discussions with its landlords regarding “potential restructuring options” for its estate. The company released a statement today following reports from the BBC last week that as many as 120 outlets will not reopen after lockdown, with Frankie & Benny’s to be the biggest casualty. The Restaurant Group said its Wagamama, airport concessions and pub operations were not affected by the discussions. The company said: “As is widely understood, our industry is facing exceptional challenges in what is an unprecedented operating environment. The casual dining sector was already facing significant challenges prior to the onset of Covid-19, with overcapacity and significant cost pressures. “In order to meet both the immediate challenges and to build a post-lockdown business with a sustainable future, we are in discussions with our landlords regarding potential restructuring options for our leisure estate.” It follows the company’s announcement in March that most branches of Chiquitos will remain closed after the crisis. Administrators were called in to close 61 out of 80 sites. To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette