TWO family-favourite restaurant chains ‘could be sold’ to a major rival after dozens of outlets closed.
Restaurant Group (TRG) is in negotiations to sell Frankie & Bennys and Chiquita to The Big Table Group, owner of Cafe Rouge.
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Restaurant Group wants to sell Frankie & Bennys and ChiquitoCredit: Getty
The Big Table also owns other well-known brands such as Cafe Rouge and Bella Italia.
Talks are said to be at an advanced stage, but could still fall through.
A spokesperson for the group said: “TRG confirms that it is in advanced discussions with The Big Table Group regarding the potential divestment of its leisure business.
“While discussions are ongoing, there can be no certainty that they will result in a transaction or as to the final terms of any such transaction.
“Further announcements will be made as appropriate.”
The sale would consist of 75 locations owned by the two chains, Sky News reported.
By selling to a well-known restaurant group, the sale could protect 3,000 employees at TRG’s leisure estate, the report said.
The sale would further increase the brands of The Big Table, which already consists of about 160 different chains, including Las Iguanas.
The Sun has contacted The Big Table group for comment.
It comes after TRG, which also owns Wagamama, revealed it will close around 40 locations by April 2024.
The plans will see the entire leisure estate reduced from 116 to 75 to 85 spaces.
TRG first announced the closures back in March, reported mounting losses last year and said some of its restaurant chains had been directly hit by the cost-of-living crisis.
Dozens have closed so far, including Frankie & Bennys, Chiquito and Firejacks locations.
TRG also had to close hundreds of its restaurants due to the coronavirus pandemic.
At least 61 Chiquito restaurants closed in 2020, with the loss of around 1,500 jobs.
It then closed 125 other restaurants, including a number of Frankie & Benny’s locations.
It has also completely closed its Food and Fuel pub chain in London.
Earlier this week, the groups confirmed strong trading in pubs, concessions and its flagship chain Wagamama in its latest update.
It also aims to open between eight and ten new Wagamama restaurants a year from next year.
In general, food and beverage chains have suffered in recent months as the cost of living has led to fewer people spending on dining out.
The hospitality sector as a whole is struggling to recover from the pandemic, only to be hit by huge energy bills and inflation.
Several chains have also been affected, resulting in the closure of brand name outlets such as Wetherspoons.
In January, Byron Burger fell into administration, with the owners saying it would result in the loss of more than 200 jobs.
Italian restaurant chain Prezzo revealed plans to close 46 restaurants back in April due to high energy and food costs, putting 810 jobs at risk.
Meanwhile, coffee lovers say goodbye to yet another outlet, still struggling with a string of closures.
On the other hand, the administrators announced the closure of the first Wilko stores.
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