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Restaurant Group counts cost of portfolio restructure

The owner of Wagamama warned of the consequences of a second national lockdown
Restaurant Group counts cost of portfolio restructure

The Restaurant Group's (RTN) losses deepened during a turbulent period for the owner of Wagamama and Frankie & Benny’s. Falling high street footfall and deserted airports have ravaged trading, prompting a substantial write-down of assets and a Company Voluntary Agreement (CVA) during the period. Sales have recovered since the close of the period, although much of this lift is likely attributable to the government’s Eat Out to Help Out initiative in August.

IC TIP: Sell at 58p

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