Restaurant Group in talks with landlords over restructuring options
The Restaurant Group said on Monday that it is in talks with its landlords about potential restructuring options for its leisure estate.
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The owner of Garfunkels and Frankie & Benny’s said its airport concessions and pub operations are not affected by the discussions.
"A further announcement will be made as and when appropriate," it said in a statement in response to recent press reports.
"As is widely understood our industry is facing exceptional challenges in what is an unprecedented operating environment," the company said, adding that the casual dining sector was already facing "significant" challenges before the onset of Covid-19, with overcapacity and significant cost pressures.
The Restaurant Group said it was in talks with landlords "in order to meet both the immediate challenges and to build a post-lockdown business with a sustainable future".
Last week, the BBC reported that up to 3,000 jobs were at risk after Restaurant Group decided as many as 120 outlets would not reopen after lockdown. It said Frankie & Benny's would bear the brunt of the closures.