Wagamama owner slumps to £62m loss due to Covid lockdown

The Restaurant Group, which also owns Garfunkel’s, says sales rising in recent weeks

The Restaurant Group (TRG), which owns the Wagamama, Frankie & Benny’s and Garfunkel’s chains, swung to a loss in the first half of the year because of the coronavirus lockdown, but said sales had bounced back since branches were allowed to reopen.

The hospitality sector was hit hard by the coronavirus lockdown when restaurants, bars and pubs were shuttered for several months. The Restaurant Group (TRG) reported a pretax loss of £62.6m for the 26 weeks to 28 June, compared with a profit of £28.1m a year earlier. Including restructuring costs, itmade a statutory loss of £234.7m.

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