Wagamama restaurants set to close
By Sarah Wood | 8th March 2023
Restaurant Group, owner of brands including Wagamama, plans to close dozens of restaurants in the coming months.
The company, which also owns Frankie & Benny's and Chiquito, has earmarked 35 loss-making sites for closure, as reported by Sky.
It is not yet clear whether Wagamama restaurants in Gloucester or Cheltenham will be affected by the closures.
The business blamed pressures due to higher inflation, including wages, energy and ingredients.
Restaurant Group reported an annual operating loss of almost £50m for 2022, despite strong sales growth across its divisions. Total sales of £883m compared with £636.6m for 2021, when it made profits of £11.8m despite continued challenges from the pandemic.
Image credit: Google Maps 2020
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