Wagamama's and Frankie & Benny's group loses £15m
- Credit: Archant
The Restaurant Group, which owns Wagamama's and Frankie & Benny's, with outlets in Norfolk, said it expects the first quarter of 2021 to be "extremely challenging."
It said the latest restrictions mean it will have 145 sites where customers can dine in across the UK, 142 sites which will provide delivery and takeaway services only, with another 103 restaurants closed. There are Frankie & Benny's in Norwich, Great Yarmouth and King's Lynn with Wagamama's in Norwich.
In June, the company completed a company voluntary arrangement (CVA) restructuring, which saw it cut 3,000 jobs and permanently shut 125 restaurants.
However, in a statement, the company said: "The board believes the group is well positioned to benefit from a sustained removal of restrictions given its previous strong trading performance following the first lockdown." TRG has been buoyed by the continued strength of the Wagamama's pan-Asian brand it bought for £559m in 2018.