The Restaurant Group
This compiles our reporting on The Restaurant Group (TRG), operator of prominent UK brands including Wagamama, Frankie & Benny’s, and Brunning & Price. We cover TRG’s strategic decisions, financial performance, brand portfolio changes, executive leadership moves, site rationalisation, and growth initiatives. Our analysis offers critical insight for restaurant operators, F&B executives, and hospitality professionals tracking the direction of one of the UK’s most influential multi-brand operators in casual dining and pub restaurants.
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Jun- 2023 -9 JunePeople
TRG independent non-executive director to step down
The Restaurant Group has announced that Alex Gersh, an independent non-executive director of the group and the chair of its audit committee, will be stepping down from his role on 1 July. The group has announced that Loraine Woodhouse, who has been a member of the board since 4 July…
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May- 2023 -24 MayRestaurants
Wagamama owner narrowly beats AGM investor revolt
Wagamama owner The Restaurant Group (TRG) has narrowly beaten a revolt from rebel investors over the pay of CEO Andy Hornby and the direction of the company at its most recent AGM. Over 45% of shareholders voted against the company’s directors remuneration report for 2022 which revealed that Hornby was…
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19 MayRestaurants
TRG comes under renewed pressure from activist investor
The Restaurant Group (TRG), owner of Wagamama, has reportedly come under renewed pressure from activist investors, according to reports from The Times. Oasis Management Company, the hedge fund leading the rebellion, has accused TRG of excluding “certain” shareholders from key information ahead of the company’s AGM. Oasis has used its…
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4 MayNews
The Restaurant Group to shut 23 sites by end of May
The Restaurant Group, which operates approximately 410 restaurants and pub restaurants throughout the UK including Wagamama, Brunning & Price and Frankie & Benny’s, is set to reinstate the closing of 23 of its sites at the end of May 2023. The group said it had successfully negotiated a number of…
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2 MayRestaurants
TRG reports Wagama sales up 9% despite backlash from investors
Wagamama owner, the Restaurant Group, has revealed that Wagamama sales grew 9% compared with 2022, over the four weeks to April 30, despite facing backlash from activist investors. According to its latest trading update, covering the 13 weeks to 2 April 2023, it recorded a 15% increase in dine in…
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Mar- 2023 -31 MarchRestaurants
D&D London relaunches flagship restaurant
Restaurant group D&D London has revealed that its Kings Cross flagship, German Gymnasium, is relaunching the first-floor restaurant following the arrival of new executive chef, Alexander Thiel. Thiel has curated the new menu at the restaurant, which has been inspired by German home cooking and drawing upon his experiences working…
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8 MarchRestaurants
Wagamama owner to shut 35 sites as FY losses widen
The Restaurant Group has revealed that for the year ended 1 January 2023, its statutory loss before tax increased from £35.2m in 2021 to £86.8m. As a result, the Wagamama owner has made plans to shut around 35 “loss making” locations. This decision will take its portfolio from 166 restaurants…
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Feb- 2023 -23 FebruaryRestaurants
Macellaio on Union Street rebrands to Osteriadel Macellaio
London-based Italian restaurant, Macellaio RC on Union Street, is rebranding to Osteriadel Macellaio, a restaurant serving wine and “simple, yet delicious” Italian food from this month. The rebranding of the restaurant comes as the venue wishes to offer a new sustainable menu, using all parts of the cow cooked by…
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22 FebruaryNews
Oasis reiterates ‘need for transparency’ amid Wagamama’s performance
Oasis, the Hong Kong-based activist investor, has again reiterated the need for transparency from The Restaurant Group (TRG) – the owner of Wagamama – following a response to its open letter which demanded sweeping changes after a 65% slump in share over the past year.In an open letter last week,…
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17 FebruaryRestaurants
TRG welcomes shareholder calls to restore market confidence
The Restaurant Group (TRG), the operator of Wagamama, has welcomed constructive input from its shareholders at the Oasis Management Company, who issued the company a letter yesterday (16 February) calling on it to restore market confidence. In this letter, Oasis outlined a proposal for a governance review, which included a…
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