June 8, 2020 / 6:31 AM / a month ago

Frankie and Benny's owner seeks to restructure restaurant leases

June 8 (Reuters) - Frankie and Benny’s owner Restaurant Group Plc confirmed on Monday it was in talks with its landlords regarding potential restructuring options for its leisure estate, as it struggles with financial pressures following the coronavirus crisis.

The company’s announcement came after a Reuters report last week citing a source familiar with the matter that said it plans to permanently close 100-120 stores, putting up to 3,000 jobs at risk across the UK.

“The casual dining sector was already facing significant challenges prior to the onset of Covid-19, with overcapacity and significant cost pressures,” the company said.

Reporting by Tanishaa Nadkar in Bengaluru; Editing by Rashmi Aich

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