Restaurant Share Discussion Threads

[adobbing] 19/8/2020 09:26

Earlier this evening Pizza Express announced it will close 73 restaurants and cut 1,100 jobs after being hit hard by the coronavirus pandemic and lockdown.

The company, which currently has around 454 restaurants in the UK, said on Tuesday it has finalised a proposal to reduce its restaurant and rental costs via a company voluntary arrangement (CVA).

It said that although the majority of its restaurants were profitable before lockdown was imposed, earnings had been declining across the Pizza Express estate for the last three years.

It added that the reduction in revenue caused by the enforced closure of all restaurants, the cost of reopening and the UK’s uncertain economic future meant its rental costs were no longer sustainable.

Pizza Express, which is majority owned by Chinese firm Hony Capital, also confirmed it had hired advisers from Lazard to lead a sale process for the business.

[adobbing] 19/8/2020 08:22

I think it’s the “volume of visitors” to the places you mention that will be the issue, this time last year it would have been great. However post covid most people are shopping online at M&S and so the footfall will be massively impacted. M&S are getting rid of 7,000 staff as a result.
If I was RTN, I would offload as many of these sites, as quickly as possible. The rents pre Covid might have been realistic, now.....

[r9505571] 18/8/2020 18:38

Local press reporting that the Frankie & Benny's at Sprucefield in Northern Ireland will close permanently. The chain said it was closing up to 90 of its restaurants, I thought this site would be fantastic for a Wagamama site due to the volume to visitors to M&S, Sainsburys, PC World & Boots etc

[r9505571] 18/8/2020 18:32

What?? Starting to go under?

[slinkyj] 13/8/2020 11:52

Rbg starting to go FYI.

[deduce101] 10/8/2020 21:52

Wagamama new safety measures look very positive:

‘stay safe the wagamama way’ includes



new moveable screens, inspired by japanese partition designs (shoji). these stylish additions cleverly take advantage of our iconic wagamama benches, making them more accommodating than ever

a safety host will greet you at the door to ensure socially distanced queuing, and manage flow in and out of our restaurants

increased hygiene routines will be enhanced, with hand sanitiser stations for guests and a rigorous regime for staff

disposable menus on placemats with cutlery and condiments being brought to table, only once you are ready to be seated, to help eliminate additional touch points

cashless payments through a simple pay on phone mechanic at the end of the meal which minimises staff contact, and adheres to the government’s contact and trace request. the name and phone number of at least one person in the group visiting the restaurant is taken (this is stored temporarily for 3 weeks only)


these are the positive changes we’re making to keep us all safe. what hasn’t changed is our ability to modify your food order (especially important if you suffer from an allergy)and the freshness of our food.

[adobbing] 10/8/2020 15:31

The Restaurant Group – which owns a portfolio of restaurants and pubs including Wagamama, Frankie & Benny’s, Chiquito, Garfunkel’s Restaurant and Brunning & Price – remains circumspect.

“We have seen a very strong customer response to the scheme, but we are not complacent and the real proof of the pudding will be when the scheme finishes at the end of August,” says a spokesman for The Restaurant Group.

[adobbing] 08/8/2020 15:25

Eat out to help out: 'We've had 15,000 bookings'



The Restaurant Group - which owns a portfolio of restaurants and pubs including Wagamama, Frankie & Benny's, Chiquito, Garfunkel's Restaurant and Brunning & Price - remains cautious.
"We have seen a very strong customer response to the scheme, but we are not complacent and the real proof of the pudding will be when the scheme finishes at the end of August," says a spokesman for The Restaurant Group.

"A lot of people have used the subsidy as the first time they're going out again - it takes once or twice venturing out of the home to get them to feel comfortable," says Will Beckett, the co-founder of steakhouse chain Hawksmoor.
Six of his restaurants have received a combined 15,000 bookings for the 13 days of the "Eat out to help out" scheme, while two sites remain closed.
"The most obvious way in my mind that it's helping restaurants, is that it's helping people to learn to go out again," Mr Beckett told the BBC.
The government promotion, which launched this week, gives people a discount of up to 50% up to a maximum of £10 when eating or drinking soft drinks in a participating restaurant or other food establishment every Monday, Tuesday and Wednesday in August.
It's early days, but there was an average rise in visits to retail destinations of 2.3% on Tuesday 4 August and Wednesday 5 August, compared with the previous week, according to industry analysts Springboard.

[paulisi] 03/8/2020 16:22

I saw F&B on the list. Not sure about Chiquito

[adobbing] 03/8/2020 16:15

Yep, full list of chains participating



Includes Wagamama, but no mention of F&B’s or Chiquito.
Presumably they aren’t open and probably won’t be!

[paulisi] 03/8/2020 10:35

Looks like the whole chain has signed up to the government scheme.

[adobbing] 22/7/2020 19:52

Co-founded by cricketers Harry Gurney and current England international Stuart Broad, the Midlands-based Cat & Wickets Pub Company has recorded stronger than expected takings straight off the bat after reopening on 4 July.

[tomps2] 18/7/2020 11:50

RTN mentioned a few times in this Andy Brough interview with piworld. Andy is Head of the UK & European Small & Mid Cap team at Schroders:

[john09] 17/7/2020 12:44

You do that

[onjohn] 17/7/2020 12:37

People not going out
Looks like bbq best option

[john09] 17/7/2020 12:06

Boris In positive mood

[chtr] 13/7/2020 15:58

I'm up 20% now so hopefully turning a corner

[tygarreg] 13/7/2020 15:37

Hopefully it will turn out to be a great buy on Fridays low!

[john09] 13/7/2020 14:28

Looking better

[chtr] 10/7/2020 19:19

Here's hoping!

[tygarreg] 10/7/2020 19:13

Great finish!

[adobbing] 10/7/2020 18:54

Frankie & Benny's and Garfunkels don't deserve rescuing

Lloyds nearly collapsed from taking HBOS from Andy Hornby, now it's saved him again

The Restaurant Group’s chief executive Andy Hornby’s got a nerve.

Having overseen the destruction of HBOS in the run up to the financial crisis when he was running that business, he’s now gone cap in hand to its rescuer, Lloyds, to save his current one.

Lloyds, lest we forget, nearly collapsed under the weight of the dross Hornby left it.

Yet today, Lloyds ponied up a £50 million loan under the Coronavirus Large Business Interruption Scheme when it seems pretty clear that TRG isn’t going to be a “large” business for long.

Today, Hornby admitted he’ll not be reopening 10% of his restaurants in 2020. For which read, “ever”.