Wagamama and Frankie & Benny's owner has revealed plans to shut around 35 of its loss-making dining locations in efforts to boost earnings.
The Restaurant Group warned of job losses following the announcement, saying the closures would help it shore up cash after reporting widening losses over 2022.
"Every year a number of leases come up for potential renewal, so the vast majority is where we are going to selectively - and we haven't fully decided yet, we are going to constantly review the way the sites are trading - exit a number of those, rather than renew the lease for another five or 10 years," he said."But we are not closing any sites that we think have got long-term profitable futures.
The company, which has around 18,000 staff, has already cut several restaurants, including closing the majority of its Chiquito restaurants at the start of the pandemic to bolster its finances.
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