In terrible news for parents who enjoy grabbing and easy meal with their kids and teens who love a cheap date, Frankie & Benny’s has announced plans to close 125 stores immediately following the coronavirus lockdown.
The restaurant was a popular spot back in the noughties, ranking as a prime restaurant for dates ten years ago (might have treated a lucky girl to a meal here once or twice back in my day!). There was nothing better than tucking into a plate of BBQ ribs before heading over to Cineworld to spend the same amount on pick n mix, although it recent years, it seems there’s been a huge increase in competition in the chain game, with restaurants such as Nando’s taking the top spot in terms of household favourites.
Now, Frankie & Benny’s, owned by The Restaurant Group, will close 125 outlets and negotiate rent fees on 85 other underperforming outlets – as a result of COVID-19 and slower cash flow.
Andy Hornby, chief executive said, “The issues facing our sector are well documented and we have already taken decisive action to improve our liquidity, reduce our cost base and downsize our operations.
“The proposed CVA will deliver an appropriately-sized estate for our Leisure business to ensure we are well positioned despite the very challenging market conditions facing the casual dining sector.
“I would like to wholeheartedly thank all of my TRG colleagues for their continued understanding and extraordinary commitment during this unprecedented period.”
The company, which also owns Wagamama, is one of the largest restaurant operators in Britain, with 22,000 members of staff on furlough. Wagamama has continued to trade strong during the pandemic, with many restaurants re-opening for collection and delivery orders following the government’s nod of approval for restaurants to operate with drive-thru and delivery services.
Some people took to Twitter to share their grief about the closure of the Frankie & Benny’s stores.
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