Ed Standring has stepped down as managing director of the AIM-list Richoux Group with immediate effect, the company has announced.
Standring joined Richoux Group as managing director at the start of 2012. Previous to that he was managing director of Relish Restaurants, which operated the Café Pasta and French Kitchen brands, for over seven years.
Previous to that he was an operations director at Spirit Group for six years.
Richoux, which was formerly known as Gourmet Holdings, currently operates 23 restaurants under the Dean’s Diner, Richoux and Villagio brands.
Last month, the group reported a 5.7% rise in revenue for the 28 weeks to 10 July to £7m, but a fall in EBITDA as it warned of difficult trading conditions.
The operator saw adjusted EBITDA fall to £280,000, from £790,000 last year. It also recorded a loss after tax of £580,000 and recognised impairment charges against three underperforming sites.