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PRIVACY
Retail & Consumer

Chiquitos owners The Restaurant Group to close 90 restaurants this year

The firm which also owns brands including Chiquitos and Coast to Coast plans to convert some sites to its Wagamama brand

Chiquito restaurant in the Metrocentre - the chain is one of the brands owned by The Restaurant Group

The owner of Frankie & Benny's and Chiquitos has said it plans to close up to 90 restaurant sites by the end of next year.

The Restaurant Group (TRG) said the decision will affect restaurants across its leisure portfolio, which also includes Wagamama, Coast to Coast, Joes Kitchen, Firejacks, Garfunkel's.

The move also follows its exit of 18 sites last year.

The closure plan comes amid a tough period for casual dining chains, with rivals such as Jamie's Italian collapsing over the past year.

TRG said at least 31 of its leisure sites will not see their contract renewed, with the number potentially rising depending on discussions with landlords.

It added that it also expects to dispose of up to 35 further sites, sell another 12 freehold sites, and plans to convert up to 12 current leisure restaurants into its more profitable Wagamama brand.

The move will take its leisure portfolio down to 260 to 275 sites by the end of 2021, from 350.

TRG confirmed the closure plans as it reported like-for-like sales growth of 2.7% for the year to December.