All Chiquito articles
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Analysis & InsightBig Table takes on ‘substantial risk’ with TRG Leisure estate
Following the payment of a £7.5m ‘dowry’ to take on The Restaurant Group’s Leisure business, MCA explores the challenges facing The Big Table Group as it’s tasked with turning around the loss-making estate
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InterviewsBig Table to drive ‘strong improvements and synergies’ with Leisure acquisition
The group will find savings in the supply chain, overheads, and culture in its newly acquired business, CEO Alan Morgan tells MCA
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NewsTRG announces sale of Leisure business to Big Table Group
The Big Table Group will take over the division, principally consisting of the Frankie & Benny’s and Chiquito brands, in a deal expected to complete in October - with TRG paying a cash contribution of £7.5m as part of the transaction
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NewsActivist investor weighs bid for TRG divisions
Activist investor TMR Capital is reported to be weighing a bid for The Restaurant Group’s Brunning & Price and Leisure divisions
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Analysis & Insight
Pressures to grow shareholder returns remains for TRG
The pressure to make large disposals also remains, with shareholder Irenic saying improved trading ’highlights the gap between the company’s intrinsic value and its significantly lower share price’
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NewsTRG reports strong trading in year to date
The Restaurant Group has said it is reviewing its strategic options while accelerating the expansion of Wagamama, and reported progress on the rationalisation plan for its leisure estate
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NewsFinnCap: Activist pressure on TRG likely to continue
Activist pressure will likely remain despite all resolutions passed with the requisite majorities at the AGM, albeit finnCap sees “considerable upside” for the group
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NewsActivist Coltrane seeks change at TRG
A New York-based investor has called for change at The Restaurant Group after taking a 3% stake, The Sunday Times reports
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NewsOasis: TRG management ‘not aligned with shareholders’
The activist hedge fund has urged fellow shareholders to reject “pay without performance” at The Restaurant Group
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InterviewsAndy Hornby: ‘Make sure your supply forecasting is nailed on’
In the second part of an interview with MCA, Andy Hornby, chief executive of The Restaurant Group, discusses the importance of accurate supply forecasting and simplifying menus as a way of controlling menu price inflation. He also discusses pub estate expansion, as well as current and future prospects for trading.
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Analysis & InsightCost increases could cloud TRG’s future performance
There was a generally positive reaction from analysts to The Restaurant Group’s recent first half trading update, which included the 15-week period following the reopening of indoor dining, although longer-term questions remain.
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NewsAndy Hornby: “There is a long-term structural shift around delivery”
Following The Restaurant Group’s first-half results announcement MCA caught up with Andy Hornby, chief executive, to discuss recent trading.
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OpinionDominic Walsh: Casual dining one of ‘big losers’ of pandemic
It used to be so simple. Come up with a restaurant concept and a brand, open one restaurant, then a second, then aim for five outlets then ten and 20, and if it’s still working, press the button on a nationwide rollout. Well, something like that, anyway.
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NewsWagamama announces double closure following business review
Wagamama is to permanently close two of its London sites, including its ‘noodle lab’ in Soho. The pan-Asian chain, which is owned by The Restaurant Group (TRG), says it made the decision following a review of the company’s portfolio brought about by a ‘marked shift’ in customer demand caused by the Coronavirus pandemic. As a result of the review, it has been decided that Wagamama’s Mansion House restaurant, as well as its ‘noodle lab’ test kitchen on Dean Street, are no longer economically viable, and both sites have been closed.
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NewsRestaurant Group CVA is ‘reshaping the face of casual dining’
The Restaurant Group’s announcement yesterday that it is proposing a CVA for it’s long-troubled leisure division was a major, if not entirely unsurprising development, in a coronavirus-dominated news cycle. Under the proposals, the company voluntary arrangement will allow for a restructure of the estate, which will see it exit 125 ...
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NewsRestaurant Group in talks over leisure restructure
The Restaurant Group has confirmed it is in discussions with landlords regarding “potential restructuring options” of its leisure estate.
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NewsTRG to close up to 120 sites
The Restaurant Group is to permanently close between 100 and 120 of its leisure brands sites.
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NewsFrankie & Benny’s to close a “large number” of sites
The BBC has reported that a “large number” of Frankie & Benny’s restaurants are to close. It said an email to staff sent by the Restaurant Group says many sites are “no longer viable to trade and will remain closed permanently. The Covid-19 crisis has significantly impacted our ability to trade profitably, so we’ve taken the tough decision to close these restaurants now,” the email said.
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NewsEditor’s Opinion: Hang tight and plan your return
The coronavirus continues to wreak havoc. It’s claimed hundreds of thousands of lives around the world and numbers continue to rise. As dreadful as that is, the long term socio-economic impact is more disturbing. The virus has created a level of disruption to health, society, and the economy that’s never happened before, outside of wartime. And while there is plenty of speculation on how life in general may get back to normal post-lockdown, with vaguely optimistic or pessimistic dates floating around, there is no clarity on how or when this might end.
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NewsTimeline: How the coronavirus crisis unfolded
Here are just some of the twists and turns over the last few weeks. If you want to read all the MCA coverage of the coronavirus crisis click here.