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

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.

“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.

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.