All The Restaurant Group (TRG) articles – Page 7
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NewsTRG downsizes exec pay and operations
The Restaurant Group has announced an extension to its lending facilities, executive pay cuts and a downsizing of its board.
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NewsTRG: 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 350-strong leisure arm ...
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NewsTRG 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
Goodbody on M&B, TRG, Marston’s
Mitchells & Butlers, Restaurant Group and Marston’s all seeing a significant impact from COVID-19
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NewsTRG predicts 2020 sales decline of 25%
The Restaurant Group has predicted an overall decline in like-for-like sales of 25% in FY2020 as it has experienced an “increasing and material impact” of COVID-19 in recent weeks.
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NewsWagamama “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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NewsMore 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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Analysis & InsightGoodbody on TRG
Restaurant Group will report a Q4 trading update in late January. At this point last year RTN gave full year LFL’s for the group and total sales. We forecast FY LFL sales growth of -0.8% in the Legacy business with LFL sales growth of 8.8% for Wagamama UK (implying a group FY LFL of just above 2%). As a reminder group LFL growth was +3.7% in the first 34 weeks.
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NewsTRG 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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NewsAnalysts’ verdict: JP Morgan and Goodbody on Wagamama
Wagamama’s second quarter trading update may have revealed its lowest like-for-like growth rate since Q4 2016, but according to analysts at JP Morgan this is missing the point.
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NewsTallboy made group CIO of TRG
Wagamama chief information officer Richard Tallboy has been promoted to group CIO of parent company The Restaurant Group, MCA understands.
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NewsFrankie & Benny’s focuses new menu on Italian American roots
Frankie & Benny’s has revamped its menu as it looks to highlight its Italian American roots.
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Analysis & Insight‘TRG now has a future’
The legacy of Andy McCue’s truncated time as chief executive of The Restaurant Group is, as well all know, the £559m acquisition of Wagamama. When the deal squeaked through last year, there was widespread scepticism over the longevity of its stellar like-for-like sales growth.
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OpinionOpinion: TRG has a spicy star in Wagamama
There are 135 reasons why the new Restaurant Group CEO, Andy Hornby, can feel positive about the future. That’s how many Wagamama sites there are in the UK and each one is crucial to TRG (it also has five in the US and 57 franchises elsewhere around the world).
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OpinionJP Morgan and Goodbody on The Restaurant Group
The Restaurant Group’s (TRG) H1 results yesterday revealed a strong performance from Wagamama and plans to rationalise the Leisure estate. Analysts at JP Morgan and Goodbody give their take on the numbers.
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Analysis & InsightMixed wag: TRG leisure estate continues to drag
Former HBOS boss Andy Hornby might have hoped for a smooth introduction to the sector yesterday after joining The Restaurant Group as CEO in August.
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OpinionAnalysts’ verdict: Goodbody on The Restaurant Group
In advance of The Restaurant Group’s H1 trading update tomorrow, analyst Goodbody says it’s expecting strong growth from Wagamama and evidence of stabilisation within its leisure division.
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NewsTRG expands delivery brands under new new division
The Restaurant Group is launching two new virtual brands, Daily Naan and K Bird, as part of a new business division TRG Delivery, MCA understands.
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News
Joseph Holt to open microbrewery at Manchester Airport with TRG
Brewer and pub operator Joseph Holt is to open a microbrewery at Manchester Airport’s new £1bn terminal with TRG Concessions.
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NewsAnalysts corner: Berenberg on TRG
While some key questions remain around whether Wagamama can maintain its positive momentum within The Restaurant Group, analysis of Trip Advisor ratings by Berenberg has found that signs are positive – and that customer perception of Frankie & Benny’s is improving.