Frankie and Benny’s owner has confirmed plans to close 125 locations across the country, potentially putting thousands of jobs at risk.
The Restaurant Group said it had been at the “sharp end of the Covid-19 pandemic” and would try to cut what it pays the rent.
The company has entered into a voluntary business agreement with its landlords to restructure its estate by closing approximately 125 restaurants and trying to get better deals from landlords on the rest.
Previous reports that the company was in talks with landlords suggested that the move could hit between 2,000 and 3,000 jobs.
Andy Hornby, Restaurant Group CEO: “The issues facing our industry are well documented and we have already taken decisive action to improve our liquidity, lower our cost base and reduce our business.
“The proposed CVA will provide a fairly large estate for our leisure activities to ensure that we are well positioned, despite the very challenging market conditions faced by the casual dining industry.
“I would like to thank all my TRG colleagues for their continued understanding and extraordinary dedication in this unprecedented period.”