All Chiquito articles
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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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News
Wagamama 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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Restaurant 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 ...
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Restaurant 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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TRG 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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Frankie & 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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Editor’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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News
Timeline: 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.
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News
TRG models ‘pessimistic’ slow recovery scenario
The Restaurant Group has modelled a “pessimistic scenario” for the current financial year, which would see 400 of its sites reopened gradually between July and December.
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TRG raises £57m in share placing
The Restaurant Group has raised £57 million following the succes
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KPMG: ‘This will ultimately wipe out the weaker operators’
The hospitality industry is entering a period of relative calm, with attention now turning to medium and longer term challenges, KPMG’s Will Wright has told MCA.
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TRG: no plans to put any more brands into administration
The Restaurant Group has no current plans to put any more of its brands into administration, MCA understands, including Frankie Benny’s, Brunning Price and Wagamama. Last week TRG filed a notice of intention to appoint an administrator for Chiquito, which makes up part of its ...
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Carluccio’s on the verge administration
Carluccio’s is on the verge of administration, it emerged this evening.
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TRG to place Chiquito in administration
The Restaurant Group-owned brand Chiquito has filed a notice of its intention to appoint administrators, suggesting it may be the first big restaurant group to collapse because of coronavirus, the Times reports.
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Analysis & Insight
Steve Gotham: Turning up the heat and other NPD delights
New product development (NPD) is rightly recognised as a lifeblood for the eating out industry, and MCA’s Menu Tracker offers insights into the latest menu trends and influences across 150 leading operators. This review only serve as a taster, but the three courses have each been accompanied with three key summary insights.
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News
Wagamama “has transformed” The Restaurant Group says Hornby
Buying Wagamama has had a transformational effect on the fortunes of The Restaurant Group, said the business as it released its results for the 52 weeks to 29 December 2019. It said total sales were up 56.4% from £686m to £1,073.1m, while adjusted pre-tax profits were £74.5m. It recorded an exceptional pre-tax charge of £111.8m due to “impairment” in its leisure arm, primarily made up of Frankie and Benny’s and Chiquito, leaving a statutory loss before tax of £37.3m.
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More closures expected for TRG leisure brands
The Restaurant Group is expected to announce further closures of Frankie & Benny’s and Chiquito this week, the Mail on Sunday reports.
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TRG appoints Chambers as leisure brands CEO
The Restaurant Group has appointed Mark Chambers to the new position of CEO of its leisure brands.
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Gunwharf Quays – Restaurant and retail therapy a plenty!
With more than 30 bars, cafés and restaurants (as well as over 90 shops) Gunwharf Quays offers an abundance of opportunities for plenty of remedial treatment. Supported by its impressive waterfront location, attractive design and assorted leisure-related reasons to visit, Gunwharf Quays is one of the UK’s finest outlet shopping centres. So amongst some Christmas shopping, I was keen to see how it is using its extensive assortment of Food & Beverage purveyors to both restore weary shoppers as well as to act as a footfall driver in its own right. But also, and more critically, I was keener to see some something new and surprising.
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News
Deliveroo launches click and collect service
Deliveroo has launched its long-awaited click and collect service, Pickup, which is currently available from 13 cities in the UK.
