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Frankie & Benny’s is permanently closing 125 restaurants in the UK

Terrible news..

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Frankie & Benny’s has announced it will be closing 125 of its restaurants in the UK, but has renegotiated rent fees on all the other branches.

The restaurant chain that we’ve all had a birthday party at will, unfortunately, be closing many of its doors immediately, according to the owner of the company.

The Restaurant Group, which manages the brand, said 125 restaurants will be permanently closed but the remaining 85 have managed to renegotiate rent fees.

The news comes one week after the firm told hundreds of workers that many sites are ‘no longer viable to trade and will remain closed permanently’.

Andy Hornby, the chief executive, said: “The issues facing our sector are well documented and we have already taken decisive action to improve our liquidity, reduce our cost base and downsize our operations.

David Lally / Odeon and Frankie & Benny’s / CC BY-SA 2.0

“The proposed CVA will deliver an appropriately-sized estate for our Leisure business to ensure we are well positioned despite the very challenging market conditions facing the casual dining sector.

“I would like to wholeheartedly thank all of my TRG colleagues for their continued understanding and extraordinary commitment during this unprecedented period.”

The changes will have no impact on the group’s Wagamama, Airport Concessions and Pub operations.

Brian Robert Marshall

Melanie Leech, chief executive of the British Property Federation (BPF), added: “These situations are never easy, particularly now for the retail and hospitality businesses on our high streets at the sharp end of the Covid-19 pandemic.

“Property owners, however, need to take into consideration the impact on their investors, including the millions of people whose savings and pensions are invested in commercial property, as they vote on any CVA proposal.

“The Restaurant Group and Alix Partners engaged with the BPF before launching this CVA proposal.

“This has provided us an opportunity to improve understanding of property owners’ interests and concerns, but ultimately it will be for individual property owners to decide how they will vote on the CVA.”

The company also owns Wagamama and Garfunkel’s and is one of the largest operators in Britain. It currently has 22,000 staff on furlough. 

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Boy, 15, arrested after teenage boy stabbed to death outside school

He’s the second person to be arrested

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West Yorkshire Police

A teenage boy has been arrested following the murder of a 15-year-old on Wednesday.

The suspect, also 15, was picked up by police after student Khayri McLean was stabbed to death in Huddersfield.

He has now been arrested in connection with the murder.

He’s the second person to be arrested as police investigate Khayri’s death outside his school.

West Yorkshire Police said: “Police investigating the murder of 15-year-old Khayri McLean in Huddersfield have arrested a second youth in connection with the incident.

“The 15-year-old male was arrested yesterday and is currently in custody. A 16-year-old male who was arrested yesterday also remains in custody.

“Officers from West Yorkshire Police’s homicide and major enquiry team (HMET) are continuing to conduct enquiries into the death of Khayri, who died after being stabbed on Woodhouse Hill, Huddersfield, on Wednesday.”

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Kwasi Kwarteng scraps cap on bankers’ bonuses in first mini-budget as Chancellor

NEWS JUST IN

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Chancellor Kwasi Kwarteng gave his first mini-budget in the House of Commons this morning.

He began by discussing the government’s plan to support people with the cost of energy, including freezing domestic bills at £2,500 and giving out the £400 rebate.

There’s also unit price limits for companies.

Kwarteng said he believes the UK needs a ‘new approach for a new era’ to achieve growth of 2.5%, saying the three important parts of his mini-budget are reforming the economy’s supply side, tax cuts and a responsible approach when it comes to public finances.

As part of this, the Chancellor announced a new bill to overhaul planning restrictions, saying this will ‘unpick the complex patchwork of planning restrictions and EU-derived laws’.

He revealed that benefit claimants will see their benefits reduced if they do not fulfil their job searching commitments.

Kwarteng also confirmed that the cap on bankers’ bonuses will be scrapped, following reports that he would make this one of his first moves.

As well as that, the planned corporation tax increase has been cancelled, and will remain at 19%, with the Chancellor also setting out a series of tax cuts for businesses.

This includes tax cuts for businesses in designated tax sites for 10 years, accelerated tax reliefs for buildings, and no business rates to pay for newly occupied business residences.

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Drag Race UK star Cherry Valentine has died aged 28

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@thecherryvalentine / Instagram

Drag star George Ward, known as Cherry Valentine, has sadly passed away aged 28, it’s been confirmed this morning.

Ward’s family announced the news, describing his death as a ‘profound shock’.

He appeared on series two of RuPaul’s Drag Race UK, before going on to front the BBC documentary Gypsy Queen And Proud.

According to his family, Ward – who was raised in Darlington, County Durham as part of the Traveller community – died on Sunday.

He qualified as a mental health nurse back in 2015 before he began his career in drag.

Ward’s family said in a statement: “It is with the most heart-wrenching and deepest sadness to inform you that our George – Cherry Valentine – has tragically passed away.

“This will come as a profound shock to most people and we understand there is no easy way for this to be announced.

“As his family, we are still processing his death and our lives will never be the same.

“We understand how much he is loved and how many lives he has inspired and touched. All we ask is for your patience and your prayers in this time. We love you Georgie.”

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