Leicester restaurants amongst 75 sold to rival firm
Restaurant chains Frankie and Benny’s and Chiquito have been sold to The Big Table Group, which owns other popular dining chains like Bella Italia and Las Iguanas.
This deal impacts 75 locations. While the specific affected sites have not been confirmed, there are currently three Frankie and Benny’s and Chiquito restaurants in Leicester, including those at the Highcross Shopping Centre and Meridian Leisure Park.
The restaurant group has announced this development today, as reported by The Mirror. In exchange for purchasing its underperforming ventures, TRG will provide a “cash contribution” of £7.5m to the Big Table Group.
The transaction is set to conclude by the end of the fiscal year, which falls on March 31, 2024.
The update confirms that the sale encompasses the restaurant locations and the necessary staff to operate them. This suggests there won’t be immediate layoffs or closures due to the sale.
There are currently 65 Frankie and Benny branches in the UK, while chiquito has 15.