LONDON (Reuters) – Britain’s high-street restaurant chains Bella Italia, Cafe Rouge and Las Iguanas could see around 30% of their outlets cut, two sources told Reuters, as their owner pushes ahead with talks to sell the businesses stricken by the COVID-19 crisis.
FILE PHOTO: A worker packs away tables and chairs at a Cafe Rouge restaurant as the number of coronavirus cases grow around the world. London, Britain, March 17, 2020. REUTERS/Hannah McKay/File Photo
Casual Dining Group, owner of those chains and several others, is in negotiations with potential buyers for its entire estate, the sources said.
The closure of outlets and some of the smaller chains in its portfolio are on the table as part of this, they added.
Some of the smaller chains in CDG’s portfolio – such as Belgian-inspired Belgo and Huxley Bar & Kitchen – could be at risk altogether, said one of the sources, with buyers looking to buy a leaner and more profitable business.
The company is also negotiating lower…
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