Andy Hornby suffered a bruising first outing as chief executive of the Restaurant Group yesterday as the market responded to £116 million of write-offs by sending the shares down 12 per cent.
The owner of the Wagamama and Garfunkel’s restaurant chains said that it expected to cut its estate of 352 leisure division outlets by at least 50 per cent over the next few years as the battle to restore its fortunes continues under its fourth boss since 2014.
Andy Hornby suffered a bruising first outing as chief executive of the Restaurant Group yesterday as the market responded to £116 million of write-offs by sending the shares down 12 per cent.
The owner of the Wagamama and Garfunkel’s restaurant chains said that it expected to cut its estate of 352 leisure division outlets by at least 50 per cent over the next few years as the battle to restore its fortunes continues under its fourth boss since 2014.
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