TRG (The restaurant Group) is going to shut down almost all 120 of its restaurants.
This major shut down is expected to affect various small brands like Garfunkel’s which are associated with Frankie and Benny’s. The restaurant group which also has ownership of Wagamama will stay close even after the COVID-19 restrictions lift. However, these terminations aren’t going to affect the sites belong to Wagamama.
This closure has affected the lives of over three thousand people who are going to lose their jobs. The Restaurant group Frankie and Benny’s made an announcement last year about closing all the leisure sites which included over 200 restaurants in the next 5 years, but they had to speed up the process due to the shadow of coronavirus looming over their heads.
To stop the COVID-19 spread the government has decided to seal all 600 outlets of TRG (The Restaurant Group). A large number of bars and different enterprises at the airport also belong to these British business chain owners. They already shut down almost all of their enterprises when the pandemic leaped at the start of March.
In March another fine dining chain of the group “Tex-Mex Chiquito” sealed almost 80% of its branches after issuing a profit warning, and the remaining branches will close in the period of the next 6 years. They also had to shut down 11 of their Mexican food-supply bars in London never to open again. The aftermath of this decision has doomed 1500 people who lost their jobs.
The dining group is planning on restructuring several leisure divisions in the next 6 months, however; this recent closure is affecting the brand’s name. The coronavirus emergency has affected their capability to make profitable trades which led them to swallow the pill and shut down the restaurants.
At the start of the year 2020, the company announced the closure of the outlets by 2021 but the conditions changed due to novel coronavirus. They nevertheless have been shaping up their portfolio since the purchase of Wagamama in more than 600 million dollars two years ago. This Food chain owns a hundred and fifty restaurants that are expected to function fully following all government rules and guidelines, after the lockdown.
The terminations come amid a years-in length shake-out in the easygoing eating division, which has been hit by increasing expenses and rivalry, just as the ascent of takeaway administrations. The pandemic has pressed hard on the chains already struggling to survive in the market.