The Restaurant Group is paying Big Table £7.5m for it to take Frankie & Benny’s and Chiquito off its hands.
Big Table, which operates Las Iguanas, Banana Tree and Café Rouge, is acquiring 75 restaurants together with the central costs and 3,000 staff.
The buyer, owned by private equity firm Epiris, is paying a nominal £1 for the business, but it will receive a cash sum of £7.5m in recognition that the business made a loss of £65m last year.
