Giraffe and Ed's Easy Diner chains to close 27 sites
The owner of Giraffe and Ed's Easy Diner is to close 27 restaurants putting hundreds of jobs at risk.
Boparan Restaurant Group said sales had improved at the chains since they were acquired in 2016, but several sites remained unprofitable.He added:"The combination of increasing costs and over-supply of restaurants in the sector and a softening of consumer demand have all contributed to the challenges both these brands face."
The two brands form a combined entity, which in the most recently available accounts had annual turnover of £67.1m with underlying losses of £1.6m. Will Wright, restructuring partner at KPMG, said:"This CVA seeks to address the cost of the company's leasehold obligations across a number of unprofitable sites, and if successful, will put the business on a surer financial footing."
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