Restaurants

Fridays owner set to double estate despite profit warning

Hostmore said its continued cash flow generation, balance sheet strength and liquidity headroom provides a base to almost double the estate in the medium term

Hostmore is set to expand its portfolio with the addition of three new sites in FY22, as it outlined its ambition to almost double its site locations from the current 89 over the medium term, subject to an improved trading environment.

The owner of Fridays and 63rd+1st said this growth will be self-funded and achieved through a combination of its Fridays portfolio, a further roll-out of 63rd+1st and, in particular, and the development of the recently launched town centre concept Fridays and Go.

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