BUSINESS LIVE: TRG sells loss-making Frankie & Benny’s unit
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TRG sells loss-making Frankie & Benny’s unit
The Restaurant Group has agreed to sell its loss-making leisure business, which includes the Frankie & Benny’s and Chiquito brands, to Cafe Rouge owner Big Table Group.
TRG will pay Big Table £7.5m as part of the deal.
TRG CEO Andy Hornby said:
“A sale of our leisure business will significantly accelerate our medium-term strategic plans to increase adjusted EBITDA margins and reduce leverage.”
“On behalf of TRG, I would like to express our huge thanks to the extremely hard-working and committed teams across the leisure business who have vastly improved the customer offering in recent years. We wish them all all the best as part of the Big Table Group.”
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Drew Weisholtz is a Worldtimetodays U.S. News Reporter based in Canada. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. Drew Weisholtz joined Worldtimetodays in 2023 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with me by emailing: DrewWeisholtz@worldtimetodays.com.
