Chain dines out on deals

The owner of restaurant chain Frankie & Benny’s has slashed prices in an attempt to halt a slump in sales.

The Restaurant Group, which also runs Chiquito and Garfunkel’s, has struggled in the face of rising costs and cut-throat competition.

It responded by launching more cheap meal deals and, in October, cut main course starting prices at Frankie & Benny’s by 26%.

Profits fell to £56.7million last year, with sales falling 4.4% to £679m.

Boss Andy McCue struck an upbeat tune yesterday, saying that the changes were beginning to bear fruit.

It is also targeting vegetarian and vegan diners.