The Restaurant Group strategy review to recommend sale of 40 restaurants - The Times
The Restaurant Group [LON:RTN] has conducted a strategic review that will recommend the sale of a portfolio of the UK-based company’s restaurants, according to a report in The Times. The newspaper did not cite a source for the information, which appeared near the end of a report about The Restaurant Group’s appointment of Andy McCue as chief executive.
It is thought that the review concluded that TRG should begin a sale process for as many as 40 underperforming restaurants, the item said. TRG’s Frankie & Benny’s brand would account for most of the restaurant disposals, according to the newspaper.
TRG Chairman Debbie Hewitt said TRG will reveal the outcome of the strategic review in a couple of weeks, the report continued.
The item noted previously-reported talk that TRG has attracted takeover interest from private equity firms.
The Restaurant Group’s market capitalisation stood at GBP 839m (EUR 971m) at the close of trading in London on Friday, 12 August.