TGI Friday’s, Comptoir Group, Bills and The Ivy Collection are among the latest operators to announce temporary closures amid the COVID-19 pandemic.

TGI Friday’s will close its entire estate as of 9pm tonight (20 March), in a move to protect “guests, our teams, out communities and our business.”

“We will ensure that any stock we can safely distribute will be donated to support our local communities or shared amongst the team, and we will continue to look for ways in which we can help those in need,” said Robert B Cook, CEO.

The Comptoir Group saw its shares crash 29% to 2.5p after deciding to close its restaurants until further notice.

In order to mitigate the impact of COVID-19, the company is attempting to reduce employee costs at head office and at site level.

“The health of our staff and customers is the board’s highest priority,” the company said in a statement. “It’s difficult to accurately assess the extent to which covid-19 could have an impact on our trading and financial performance at this time. However, we expect a material reduction in our financial expectations for 2020.”

Richard Caring-backed businesses The Ivy Collection and Bill’s Restaurants have also made the decision to close with immediate effect.

As of last night (19 March), Bills closed all of its 78 sites. In a statement on its social media it said: “This extraordinary measure has been taken in the interest of both employee and guest safety which hare of utmost important to us.”

London-based operators Drake and Morgan, Tossed, Flat Iron an Dirty Martini have also closed.

 

Topics