Restaurant sales halved

Frankie & Benny’s (F&B’s) and Wagamama owner The Restaurant Group (TRG) has seen half-year losses nearly triple during the pandemic.

But trading has been “very encouraging” since sites reopened , the company said yesterday.

TRG, which also owns a raft of pubs and brands including Brunning & Price, revealed the Covid-19 crisis drove it to £234.7 million pre-tax losses in the six months to June 28, against a deficit of £78.8m a year earlier. Group sales were down by more than half, at £227.2m.

The company booked a £132 .4m charge for restructuring costs, having shut nearly 250 of its 653 sites and concessions.

It has axed around 4,500 jobs during the pandemic after closing sites as part of a company voluntary agreement w ith its landlords and creditors, while also putting its Chiquito Tex-Mex chain into administration.

The closure included F&B’s sites in Perth and Kirkcaldy.

The Restaurant Group said about 90% of its estate

is now open and late summer trading was boosted by the UK Government’s popular Eat Out to Help Out scheme.

Wagamama’s like-for-like sales grew 11% in the 11-week period, while other site si nT R G’ s leisure portfolio saw 4% growth and pubs notched up a 14% rise.

TRG’ sconcess ions– many of which are based in airports – remain under

pressure, suffering a 58% plunge in like-for-like sales as passenger numbers have yet to recover.

The group is shutting more than ha lf its concessions – closing up to 41 sites, which will leave it with between 30 and 35.

TRG said it remained cautious over its outlook, given the “ongoing impact o f pandem ic and government- imposed restrictions”.

Frankie and Benny’s in Perth did not reopen after lockdown, with its closure confirmed in July.